Kevin Andrews (Menzies, Liberal Party) Share this | Hansard source

Not Irish—the government of Australia. Imagine a government that puts in place a measure to guarantee the financial system and prevent a run on financial institutions that then causes a run on financial institutions in Australia. How would you describe that government? Inexperienced? Incompetent? Imagine a Prime Minister who regularly brags about which world leader he has phoned recently not phoning the Governor of the Reserve Bank before making a critical decision about monetary policy and financial regulation. How would you describe that? Inexperienced? Incompetent? Imagine a Prime Minister who argues that other financial institutions are not banks but then proposes that they all become banks and, regardless of their credit rating, gain bank guarantee status—in order, of course, to solve the mess that he had created. How would you describe that?

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