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With Australia’s East Coast littered with flammable and faulty towers, Meriton Apartments founder, “high-rise” Harry Triguboff, has demanded banks rescue the sector:
“If the cladding is a problem the banks will suffer a lot because of the value of the apartments dropping,” Mr Triguboff told The Australian.
“For a few thousand dollars each they can fix it. The banks have to get together and help the people.”
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.