It’s one of the most popular and controversial topics in Australia today.
So it’s unsurprising that it has been the subject of an intense debate in recent months.
But what is debt, what is it for and what does it do for the economy?
Read moreThe debate has been fuelled by recent revelations that Australia’s banks are struggling to pay off debts they owe to foreigners.
The Government has pledged to crack down on the problem, but in a few months time it could be too late.
The biggest banks are among the most vulnerable to a financial crisis.
They’re big companies, with big debts, and many are struggling with the fallout from the global financial crisis of 2008.
The banks have historically relied on the government for bailouts.
The current Coalition government is the first to propose a financial overhaul that would see the taxpayer pay the big banks to make their debts easier to manage.
It will mean the banks will have to pay more to fund capital projects, but also to help them fund the bailouts they need.
The government will also be able to borrow from the banks, which are expected to be the biggest borrowers.
The Government says it will use this money to “support growth” through tax cuts and infrastructure spending, and that the banks are “going to be better off” as a result.
In fact, the banks may be doing better than most.
The Australian Bureau of Statistics says their debt-to-GDP ratio is only slightly above the average of the world’s big economies, and has risen steadily since the crisis.
In a recent survey, the Commonwealth Bank said the banks’ debt-servicing costs were down to only 14.1 per cent of their gross assets, compared with 36.1 percent in 2009-10.
And in a recent report, the Institute of Directors said the average debt service cost per share of Australian banks had fallen from $15.2 billion in 2009 to $12.8 billion in 2019.
That’s a difference of just 0.2 per cent.
But for the big Australian banks, the prospect of the Government paying back their debts is daunting.
The problem is the banks have enormous debts and they are struggling as a consequence of the global economic crisis.
So what is the big issue here?
Why are we debating this?
The banks’ big debtsThe problem with the banks is that they have enormous debt, and it has to do with the global banking crisis.
A global banking system is a complex network of financial institutions with separate branches and branches of financial companies all over the world.
This system can’t exist without the support of the international community.
When a country or organisation defaults on its debts, it loses the ability to borrow money from the international banking system.
That means that it cannot pay its creditors.
The global banking sector has had to rely on the support from governments, and also the Federal Reserve, for bail-outs.
Since 2008, the Australian Government has taken billions of dollars from the big financial institutions to bail them out.
The debts of the big lenders have been repaid.
But there is a big problem with that.
The Australian Government is now running a national financial crisis, because the banks haven’t paid their debts, so the Government has to write them off.
It has a surplus of $3.7 trillion, and in 2018-19 it will be more than $3 trillion.
This is not enough to pay back all of the banks debts.
The big banks are the largest borrowers of Australian taxpayers, and their debt is the biggest part of their financial assets.
This means that the Government will have an enormous financial burden to pay.
The banks are big companiesThey are huge businesses that have been around for decades, operating in Australia for decades.
But their growth and profitability have fallen significantly in recent years.
The decline of the mining and manufacturing industries has made Australian manufacturing uncompetitive globally, making it more expensive to compete with foreign competitors.
In Australia, the financial services sector has also become the world leader in attracting foreign investment, as the economy has expanded and companies have shifted their focus to Asia.
In the US, this is driven by the technology and pharmaceutical industries, which have expanded in recent decades.
In the case of Australia’s biggest banks, this has meant that the financial sector is facing a crisis of financial sustainability, and the banks need the taxpayer’s help to make up the difference.
The financial crisisA big problem in Australia’s financial sector has been that the country has a large financial sector.
The largest banks are large businesses that can generate profits, and therefore generate the bulk of their revenue.
They are the main players in the financial markets.
Most Australians have a debt-service ratio of less than 10 per cent, but the average Australian household has an average debt-equity ratio of about 30 per cent – or about $2,500.
This is the reason why the Government is taking billions of taxpayer dollars from big financial companies to help pay down their debts.
The big banks say that their debts are down to less than $1.