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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Michael Collings who wrote (20134)	10/17/2004 8:53:41 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

The "Bank of New Zealand" you are referring to is a wholly owned subsidiary of NAB. Because essentially all banks in New Zealand are wholly owned subsidiaries of major Australian banks, the Reserve Bank of New Zealand is considering joint regulation of banks with the Reserve bank of Australia. au.dailynews.yahoo.com The exceptions are the odd correspondent branchs of foreign banks such as HSBC, Royal Bank of Scotland, Lloyds etc. Although many would object to this characterization, in many aspects New Zealand is essentially a colony of Australia. Until such time as Australia discontinues the treaty, New Zealand and Australian citizens have the automatic right to reside, work and obtain benefits in each other's countries. New Zealand's government health care is rather mean, which results in those who cannot obtain treatment in New Zealand moving to Australia for the duration of their illness. New Zealand exports a great number of their best workers to Australia upon graduation from their New Zealand school. New Zealand does not have the skilled workers and resources to maintain their infrastructure without contracting the work to Australian firms.