Westpac Banking Corporation's
(ASX:WBC) chief, Gail Kelly, has cautioned that Australia's economic security is being threatened by the eurozone's debt crisis.
Mrs Kelly told The Australian that all eyes are on Europe, conceding that the region's debt woes are concerning.
Mrs Kelly also noted increasing signs that the impact of contagion is beginning to reach Australia, such as volatility and unknowns making equity markets skittish.
Last week Westpac and the Melbourne Institute's leading index of economic activity showed the outlook for domestic economic growth is below long term trends.
In the year to September 30, 2011 Westpac increased its net profit by 10 per cent to $7.1 billion.
