The Financial and Banking System Of Australia Essay

The Financial and Banking System Of Australia - Essay Example ................................19 Would You Approve Lines Of Credit For Banks In This Country?.............................................20 Appendices†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 Table 1.0 List of Banks†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.22 Works Cited†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..24 I. Geography. The continent is a self governing country that is a part of the commonwealth federation. It is currently bounded by the Timor sea, Ara fura sea, Torres strait, Coral sea, Tasman sea, Bass strait along with the Indian ocean (Verdier, p.11). It is the smallest continent found on the globe and the sixth largest country in the world. Its capital is found in Canberra with Sydney being the largest city found in the country (Weerassoria, p.16). It additionally comprises of six states which include New South Wales, South Australia, Tasmania, Queensland, Victoria along with western Australia. The continent also comprises of two territories which are the Australian Capital along with the Northern one. The land forming the continent measures about 7, 614, 500 sq km (Gup, p.41). It also has dependencies such as the Ashmore territory, Cocos islands, Christmas islands, the Antarctic territory, the coral sea islands, Heard island along with the Norfolk islands (Miller, Vandrome & John, p.34). II. History Of The Country. The first occupants of the Australian continent were the aborigines who are believed by anthropologists to have migrated into the continent some fifty thousand years ago... Due to a rise in the sea level, The Tasmania was separated from other islands that were offshore (Gup, p.46). The Malaysian, Chinese, Indonesian along with Arab traders are estimated to have come to the northern part of Australia in the year 1500AD. The western countries only came to know about the Australian continent in the 17th century. The continent was the last discovery of new land that the western world made but was colonized by their powers (Weerassoria, p.23). Portuguese sailors are believed to have reached the eastern coast of the continent at around the 15th century when they were looking for a sea route connecting Africa and India. Spanish sailors led by Luis Vaez de Torres in the 16th and 17th century first saw the Australian continent but did not get there as their interests were further north in the Philippines (Gup, p.56). It is the Dutch who were using more advanced sailing ships who were responsible for making the discovery of the continent a reality during the 17th century. This occurred when they creating trading centers between Africa and Indonesia. They did not however settle in the continent as they found nothing of interest for their businesses (Miller, Vandrome & John, p.67). Their voyages and discovery of the Australian continent thus brought the British into the land. This came during the Enlightenment age that occurred in the 18th century with the stressing of scientists along with philosophers on the importance of worldwide exploration (Verdier, p.19).