AUSTRALIA’S richest woman Gina Rinehart has been criticised by Prime Minister Julia Gillard for saying the nation’s economy is heading for a collapse like those seen in Europe.
The multi-billionaire mining magnate accused the majority of Australians of thinking mining companies were ATMs from which they could draw money.
The comments were made in a pre-recorded video message at a Melbourne business conference, the second time since September the famously private Ms Rinehart has caused national headlines this way.
She said that without mining and its related industries Australia had no hope of repaying record debt, to avoid the problems Greece and other countries faced with overspending and consequent debt traumas.
“What few seem to properly understand – even people in government – is that miners and other resources industries aren’t just ATMS for everyone else to draw from without that money first having to be earned and, before that, giant investments are made,” she says in the message.
“It is as if their (Europe’s) struggles with unemployment, riots, increased crime, debt and a sheer lack of money for even essential services, had nothing to teach us.”
Read more: http://www.news.com.au/breaking-news/national/miners-are-not-atms-rinehart-says/story-e6frfku9-1226644988120#ixzz2TXOHlBMd
