RBA's Stevens praises British bailout

The British government's intervention plan appears to have all the key elements needed to restore health to the key international institutions, Glenn Stevens, the governor of the Reserve Bank of Australia.

Speaking in Sydney, he said that the Australian response to the financial crisis had taken careful note of the elements of the British plan which wee relevant to Australia's situation. However, Australia did not try to follow the public underwriting of capital injections as the country's banks

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