Over the past five years, over 80 per cent of net overseas migration has been accounted for by people under the age of 35 (Graph 5). https://www.rba.gov.au/speeches/2018/sp-gov-2018-08-08.html  5/18  8/8/2018  Demographic Change and Recent Monetary Policy | Speeches | RBA  Graph 5  This inflow of younger people through immigration has significantly reduced the rate of population ageing in Australia.
The ultimate protection of senior bank creditors, depositors in particular, comes from the fiscal backstop provided – or not – by the sovereign. It is therefore not surprising that the fragmentation of the banking system along national lines only became visible and damaging after the start of the sovereign debt crisis, even though the fault lines had existed beneath the surface.