This is not a prediction, this is a fact.
Following the next federal election National Australia Bank and Westpac will merge forming the first of Australia’s super banks. After the merger the super bank won’t need two branches in a town or city, it won’t need the staff in the NAB who will serve you today, it won’t need to be as competitive any more. Merging the two banks will be easy, if you look over the page you will see that the same names appearing as the top six shareholders in all four major Australian banks.
Nearly all of these entities are foreign owned.
In 1996 the then Labor Party Minister for trade, Bob McMullan, approved Australia’s participation in the World Trade Organisation’s (WTO) ‘Financial Services Industry Agreement’ (FSIA) saying at the time:
“The financial services agreement will directly benefit Australian banks, insurance companies and securities traders."
The FSIA is a secret international treaty negotiated by our treasury which effectively hands Australia’s banks over to foreign owned interests. (If it isn’t secret how come you don’t know about it?) Since it was signed by Australia tens of thousands of banking staff have lost their jobs and 386 bank branches (more than one a day) closed in 1997.
This bank is about to become another casualty. As a client you will have noticed how the staffing levels and services provided have fallen and how you are now being prompted to use the ATM. The ATM replaces bank services, this branch of the NAB, enforces a new regime for banking fees on the poor as well as deteriorating support for those who need it most.
In December last year the Coalition government approved an amendment to the FSIA which has allowed the Commonwealth Bank of Australia to become the target of foreign ownership - and now they want us to trust them with the sale of Telstra!
Now no-one in the Coalition warned you about this amendment to the FSIA or the impact that it would have on OUR Commonwealth Bank - privatised by the Labor Party. Quite simply put the major parties are selling Australia to foreigners and wait until elections are over before putting the next nail in Australia’s coffin. The next nail is the merger of the NAB and Westpac and you will be affected once this bank has gone.
What can YOU do to stop this?
Only Pauline Hanson has called for the process into signing international treaties to be reviewed. Only Pauline Hanson can stop this bank going. Your vote for the other parties in the coming elections will result in not only this, but thousands of other bank branches closing down in Australia.
VOTE One Nation to join the fight against multinationals.