The Treasurer, Wayne Swan, has lauded Australia’s economic reforms of recent years in a speech to the Brookings Institution in Washington DC.
Swan said: “Over the past 25 years, Australia has done much to liberalise the financial sector. But in doing so we were careful to develop a model that regulated systemically important institutions and that centralised regulation of deposit taking institutions. In doing so we ensured clear responsibilities within our system. This meant we were better placed than most to respond when the crisis emerged.” [Read more…]
Thank you, Tom for that generous introduction. The Brookings Institution is consistently at the forefront of debate on the great issues in both foreign and domestic policy, and it’s a privilege to be with you today.