Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

What we have here is yet again another example of the opposition talking our economy down and trying to undermine confidence in our community. I can think of nothing more reckless than that sort of assertion, which somehow tries to equate what is going on in the Spanish banking sector with what might be happening in the Australian economy. This is the same sort of wrecking-ball politics and economics we have seen from those opposite throughout the whole global financial crisis and global recession. They come into this House, on the one hand, and pretend it never happened—that it never had any impact on our budget bottom line and that we did not have to put in place a stimulus to support our economy—and then, on the other hand, come back and say, 'Oh, there's a big problem in Europe!'

There is a challenge in Europe for the global economy and we have got the runs on the board in handling that global volatility. I recall that when the global economy was challenged by events everywhere, including in Europe, those opposite opposed the actions we took to support the Australian people. I remember that well and so do the Australian people.

See this speech in context