Australia's mining riches do not make it immune to the economic crisis enveloping Europe, according to former International Monetary Fund managing director Rodrigo de Rato.
Under a backdrop of global uncertainty, Mr de Rato delivered the keynote address at the 20th anniversary of the Diggers and Dealers Mining Forum in Kalgoorlie-Boulder yesterday
Mr de Rato denied Australia’s robust resources sector made it bulletproof in the face of tough economic conditions.
“There should be serious concern about that, ” Mr de Rato said of the European “domino effect,” which began with Greece.
“Some of the recent forecasts by the private sector … we can see the risks the world is facing.”