anz & cnp

Article from the Australian


http://www.theaustralian.news.com.au/business/story/0,28124,24824651-20501,00.html

"He regards troubled property group Centro as an emblematic exposure for ANZ and the entire Australian banking industry -- a company that must be supported because the alternative does not bear contemplation.

"There is no point pulling the plug, because what happens then?" the ANZ chief says.

"The whole bloody thing spirals down. All the banks would have to re-evaluate the credit risk on their portfolios. That would require increasing capital, and it goes on and on.

"You have got to be calm, considered and sensible. This is a time for statesmanlike banking."