I can’t believe the attitude of the Aussie banks. The governor of our Reserve Bank wants to improve the ratios thus making the economy safer. He also wants deposits guaranteed to keep us in line with the rest of the world.
The howls from the banks has been extreme despite most submissions supporting the move.
ANZ has even gone as far to suggest stepping back from the NZ market. I don’t believe it. At best it is Aussie bullying, at worst it is extreme arrogance.
In addition they’re taking us for idiots.
The banks are, humbly speaking, venal. They make 20% more from Kiwi’s than they do from Ockers. Are they going to give that away?
Further I’d respectfully suggest that ANZ aren’t in any position to criticise anyone.
They had their ratios wrong, a serious offense and the chair, John Key, blamed it on someone quite junior.
The departure of their chief executive was a mess. The Board was Missing in Action.
They sold the now retired CEO a house for less than its value which should concern shareholders and the IRD.
Both highly respected director Kerry MacDonald and Deputy PM Winston Peters has called for Key’s resignation.
In any industry other than banking that would have happened.