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Australia not immune to crisis: de Rato
Australia not immune to crisis: de Rato

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.”

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