Australian Banks Given One Week To Prepare For European Meltdown

Interesting article posted on zerohedge.com by Tyler Durben.

And since we don’t have immediate access to the article, we leave it to Bloomberg First Word to describe for us what the article says:

• Australian Prudential Regulation Authority envision worst-case scenario of 12% unemployment, 30% drop in house prices, 40% fall in commercial property values, AFR says
• Banks will assume that write-offs, other mitigation measures are unavailable; later stress tests might allow for such steps, AFR says
• Australia’s banks have A$87.2b of exposure to Europe, or 2.7% of assets, with A$74.6b of it mostly tied to bank borrowers in France, Germany, Netherlands, AFR says, citing RBA statistics

Find the rest of the article on the link below and more interesting material on zerohedge.com

Australian Banks given one week to prepare for european meltdown

Australian Economy collapse

I strongly encourage all Australians to take a good look at what is happening with the Euro and the US dollar at the moment and take the time to put in place some strategies to help protect  investments, superannuation and your personal finances.

The collapse of the Euro is inevitable.  The green back collapse is inevitable.  The question that needs to be asked is when will the Aussie $$ head in the same direction?

Wisdom says to begin preparing your households because it’s only a matter of time now..