The Australian government denies it intends to “bail in” bank deposits to prop up failing banks, but the international authorities dictating bail-in have confirmed that Australia is pushing ahead with bail-in plans.
Sensational information has surfaced that an Australian Treasury delegation travelled to Europe in February for discreet meetings with European countries on how they handled their banking crises.
The International Monetary Fund (IMF) is demanding that Australia move beyond the back door “bail-in” scheme passed last year, and enact a full, statutory bail-in regime that explicitly includes seizing deposits to prop up failing banks.
