According to Bloomberg the Australian government is attempting to eat its own head:
Australian Prime Minister Julia Gillard will argue for special consideration for the nation’s strong banks at the Group of 20 summit amid a global push to overhaul rules on capital to prevent another financial crisis, the Australian Financial Review newspaper reported.
“It’s an issue we’re confronting because of our comparative strength,” Gillard told the newspaper in an interview before the G-20 meeting in Seoul on Nov. 11-12. “We do need special consideration of Australia’s position.”
Wuh? The Gillard government seeks to prevent capital and liquidity requirements that will help stabilise the banking system ... even as it attacks the banks for the profiteering that arises from having an unstable financial system.
You are feeling sleepy...