Policy titans warn on AAA damage

Wednesday, 6 July 2016

“It just tightens the screws a little bit on the system,” Mr [David] Murray said.

Mr Costello, who also chairs Nine Network owner Nine Entertainment and is the current chairman of the $117 billion Future Fund, echoed the concern about the impact on financial institutions. “If the commonwealth government without a AAA is required to stand behind them, that affects their position,” Mr Costello told The Australian.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.