Crikey 27 March 2013:
The Tele's article invoked some heavyweights to back up its case, including Saul Eslake, who told Crikey he'd been taken a little out of context in the piece. According to Eslake, Rolfe had contacted him to ask if Australia faced a debt crisis. Eslake's reply was that Australia didn't, and he compared us with Canada, which will not return to surplus for some years and will likely have a debt approaching 30% of GDP, compared with 11.5% for Australia. Over time, Eslake suggested, Australia might develop a problem due to the actions of a number of governments, including the John Howard government. This prompted Rolfe to ask how soon it would become a crisis, which Eslake answered by noting a debt crisis can come on very quickly — "the lights don't turn amber, they turn red". This, said Eslake, was portrayed as him saying a debt crisis was around the corner and it was entirely the fault of this government.
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