Inevitably, there are a number of uncertainties, foremost amongst which are the future rate of productivity growth in the non-mining economy and the ability of the labour market to effectively match workers with the new employment opportunities that are being created.
In turn, the collapse of CLF had contagion effects on financial and non-financial firms that had exposures to the conglomerate as well as to other regional economies. What has turned out to be our domestic financial crisis certainly underscored (if ever there was doubt) the urgent need for modernising financial sector legislation and upgrading financial regulation and supervision.