The Greek Crisis and the 2008 Financial Crisis

The Greek crisis is connected to the 2008 financial crisis in Australia, says Tony Abbott. The Reserve Bank of Australia didn't exist and it could not print more money when the recession hit, he adds. And imagine a situation where also the state of Tasmania, New South Wales and so on had to pay for their own unemployment benefits individually without federal government support. Allow me to put it to you, that if that was how Australia functioned in 2008, Australia would today be a failed state.