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My biggest worry is the Aussie economy which is about a year behind Europe. WA is contracting sharply and QLD and NSW are also in trouble. The Aussie$ has moved down as sharply as the British pound and Aussie banks have invested in Europe and will have write offs.Australia failed to make as big a move away from Britain as it should have done. Bad news UK banks will send their shock waves across the pond to Aussie shores. Mining, oil and gas etc., are in steep decline, there is no get out of jail card here, we're locked in.On the British pound, it may be the case that the Euro is so strong, weaker countries in the Eurozone have a quandary. Less chance of a run on the currency but exports are expensive. Britain has a run on the pound but exports are cheap.
My biggest worry is the Aussie economy which is about a year behind Europe. WA is contracting sharply and QLD and NSW are also in trouble. The Aussie$ has moved down as sharply as the British pound and Aussie banks have invested in Europe and will have write offs.
Australia failed to make as big a move away from Britain as it should have done. Bad news UK banks will send their shock waves across the pond to Aussie shores. Mining, oil and gas etc., are in steep decline, there is no get out of jail card here, we're locked in.
On the British pound, it may be the case that the Euro is so strong, weaker countries in the Eurozone have a quandary. Less chance of a run on the currency but exports are expensive. Britain has a run on the pound but exports are cheap.
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