The first tranche of the anti-money laundering laws were put in place a decade ago to compel banks, fund managers and casinos to report the source of their money flows, but the anticipated follow-up to cover other sectors did not eventuate. The Australian government is preparing to release proposals to the public for consultation.
However, there is no consensus as to when this will eventuate. In addition, the weak exchange value of the euro is likely to prove attractive for shoppers to cross the border into neighbouring Eurozone countries such as Germany, Italy and France.
Under the plan, a new PM was to have been named on Nov 9, a week after the talks began, but when that failed to eventuate a new deadline was set for Nov 4 noon.
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