Impacts of European Debt Crisis?

What are possible impacts that the European debt crisis may have on Australia?|||Since Australia get connected with China these days, I see that Australian government will follow the China's model soon. What China did last week, was to change parts if its foreign reserve from Euro to Yen. Do you see the difference? Yes, Yen is apprciated, but Euro is going down. I do hope that it won't be a political unrest in Greece. Spain will forget the reality for a while because of the world cup. But it will be so soon. Austerity, discipline and commitment are hard to follow. You bet.|||Aussie Banks holding Euro Debt could see their investments wiped out of countries start failing and the Euro tanks. Before long, Aussie banks are collapsing.|||barter has returned worldwide