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Australia During The Financial Crisis In 2007-2008

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Outlook debt market in Australia

During the financial crisis in 2007 - 2008, a set of banks controlled by government had to face bankruptcy as well as a wide range of large financial institutions had been collapsed. It led the financial markets all over the world in difficult situation as there was a significant increase in number of unemployment all over the world as well as a decline in economic. This resulted in the international recession was continue from 2008 to 2012 and created more difficulties for some countries to re finance their government debt.

Over the last few years, global debt markets are getting more efficient because government had played an important role in using its tools and its policies to stabilise the economy. Australian financial market suffered from the crisis, it is still one of the well-developed and largest financial markets in Asia –Pacific (Austrade). …show more content…

Australian gross debt in 2013 was announced approximate 300 billion AUD – this figure is a measurement based on the issuance of Commonwealth Government Securities (http://www.abc.net.au/news/2014-03-13/joe-hockey-correct-on-australia-debt-and-spending/5310736)

The national debt market in Australia has been affected by certain factors such as interest rate, tax policies, innovation in technology, etc. but its net debt position remained at the lower level compared to other nations by international standard.

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