Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
The Citizens Electoral Council since June has been blaring the news that Australia’s banking authorities are drafting legislation in the Treasury for Cyprus-style “bail-in” powers, so that when an Australian bank fails, the savings of its deposito
No bank deposits anywhere are safe following the disastrous Cyprus “bail-in” using confiscated deposits, because this is now the standard for all future bank rescues.