@paintsew007 wrote:
Latest:
ANZ to stop forced farm sales in drought-hit regions of Queensland and New South Wales
The ANZ bank will introduce a 12-month moratorium on forced farm sales in areas of crippling drought throughout Queensland and New South Wales.
"While taking possession of a farm is always the last option after all other avenues have been exhausted, we feel it's prudent to take a pause on any new action given the severe impact the drought is having in Queensland and northern New South Wales," said ANZ Australia CEO Phil Chronican.
The bank has not been immune from the barrage of pressure mounting on the major lenders to offer greater compassion to producers in the hardest hit areas.......GOOD!
http://www.abc.net.au/news/2014-12-11/nrn-anz-moratorium/5961490?section=qld
Great news, Paints. Looks like the Banks have been shamed into taking a step back. Still only a 12 month moratorium though. They can wait til the dust settles then quietly take up where they left off, next year. Even if it does rain, and a lot, right now, farmers will take years to rebuild their stock and crops.
And then there's not much profit to be made, with the supermarkets squeezing the profit margins right down. Corporations are killing Australia.
You have to wonder where Mr Abbott is going to find these millions of cattle he's going to sell to China in his "groundbreaking" free trade agreement.
