国内英语新闻:Global economy fragile: ANZ chief

concerned about weaker economic growth being a reality for most advanced economies.

"Further mis-steps from European and US policymakers risk converting the cracks in their economies into a much deeper global system crisis which would have worrying economic and?social consequences," he warned.

But Smith, whose bank is focusing on Asia to drive profit growth, remains optimistic for the outlook in the Asia-Pacific region.

He said that the fact is that Australia is incredibly well positioned because of the nation's linkage to Asia, which remains the best performing part of the global economy.

His comments came after ANZ reported a 1.45 billion U.S. dollars underlying profit for the June quarter, up 1.3 percent compared to the March quarter.