I'm sure there is a more detailed article somewhere but this is all I could find at present.
CheersTreasurer Wayne Swan says Australia's financial market remains secure, despite yesterday's stock market plunge caused by the struggling Centro property group.
Around $53 billion was wiped off the value of stocks yesterday after Centro announced it was struggling to refinance $1.3 billion of debt.
But Mr Swan says there is no sign of any wider trouble in financial markets.
“All the advice that I received is that we have a very strong financial system, the fundamentals in Australia are sound.”
“But there are, of course, some consequences that will flow from issues in the United States.”