The situation of the financial market in Australia is that good in his year so far. The shares of the major telecom players as well as common wealth Bank have fallen down. The decline continues and it seems that there is no other way to get rid of it in recent time.

Australia’s main banks have posted the lowest revenue figure in this year and it is giving big blow to the financial conditions of the country as well.

In this week, the Common wealth Bank’s earning is at all time low and the profit margin is very less. This has been informed by the bank’s CEO Ralph Norris. On the other hand, the UBS CEO David Cassidy has stated that, the frightening consequences by the banks and NAB are going to destroy the whole economy level of the country.

He has also said if the total credit growth will rise up to 6% from 2011 annually then there is a chance for coming back to a stable condition.