Risk & Return Australia 2011: Co-ordinated supervision critical for global financial stability
The downgrade of US sovereign debt to AA+ by rating agency Standard & Poor's on August 5 and continuing fears the Eurozone debt crisis may ensnare Europe's larger economies resulted in a severe volatility in Australian equity and foreign exchange markets as Risk & Return Australia 2011 took place on August 9 in Sydney. The S&P/ASX 200 index fell nearly 3% on August 8 to close at 3,986.10 while the Australian dollar fell from 1.0447 to the greenback qat the start of the week to a less-than-parity
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