That its introduction went so smoothly is testimony to the creativity, project management capacity and cooperative spirit of everyone involved. The euro has made all our lives easier. The euro also protects our economies to a large extent from foreign exchange turbulence.
For this option to be feasible, it would be necessary for the banks to directly negotiate the interest rates on their NCDs with third parties, rather than linking the rate to BBSW. This would require a change to the existing market practice.