The Prime Minister, Kevin Rudd, has warmly welcomed the plan announced overnight by the US Treasury Secretary, Timothy Geithner, to use public and private money to purge toxic assets from US banks.
Mr Rudd said these actions were needed globally to restore credit flow, including to Australian banks and businesses.
Mr Rudd is scheduled to meet the US President, Barack Obama, tomorrow morning, Sydney time. The two are expected to discuss the global financial crisis and Afghanistan.
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