SA Treasurer Foley ‘terrified’ by financial crisis

TREASURER Kevin Foley is cutting short his overseas fact-finding mission on the global financial crisis as he warns South Australians to prepare for “heartache”.

Speaking to The Advertiser after arriving in London from the U.S. yesterday, Mr Foley says he is “terrified” after five days of meetings with banks, fund managers, rating agencies and financial analysts.

South Australians do not yet “anywhere near appreciate what is going on” regarding the full extent of a “terrifying financial meltdown“, he said.

» Treasurer Foley ‘terrified’ by financial crisis – The Advertiser, 8th November 2008.