Cullen: bank guarantees on track
The Minister of Finance maintains government moves on wholesale bank deposit guarantees are on track.
Dr Michael Cullen and his officials have been working over the weekend assessing a scheme Australia wants to introduce, and whether plans here will need changing as a result.
Cullen says the work so far has panned out well.
He expects consultation will be undertaken with banks and the financial sector this week, with public announcements to be made next weekend.
Cullen says National Party Deputy Leader Bill English will be briefed on developments, reflecting concerns that decisions on the scale of the guarantees be approached with a bipartisan spirit.
