Why Spain's pain is Australia's gain

Moves to stabilise European bond markets, including the planned Spanish banks bail-out, will help the wholesale funding activities of Australian banks.

PORTFOLIO POINT: Australian banks will benefit from the moves to stabilise European financial markets, but the banks’ offshore funding legacy will live on for some time.

The recent meetings between world and European leaders have resolved to increase and focus financial assistance towards the weaker parts of the European Union.

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