I wouldn't worry too much about Australian 'boring' banks for now, they have a fairly clean balance sheet. That is the reality.
Thorburn,
Gold recovered, it helps the Aussie economy:-). That is the extent of my own interest in the shiny metal.
Sorry for not being very informative about OMT and ECB - the legal arguments are complex ... running at some 300 pages.
However, you all know that the ECB's monetary policies are far reaching to EMU and world (not just EZ! Ambroze). Not that different from the FED. This is huge responsability for the major central banks, they need to be very careful of financial leverage, asset bubbles, etc. Which reminds me - does anybody know whatever happened to Abe's 3rd arrow?
