VC John Dewar warns the university faces financial pain, now it has an image issue

But not quite as much pain as The Age reported yesterday in a story, which began, “the university is at risk of going broke in a matter of weeks unless it secures a financial lifeline from the banks and an agreement from staff to cut wages.”

Which the university flatly denies, “the university is not at risk of going broke,” adding it is talking to its banks about “increased facilities” to “meet our funding requirements in the short-term.”  Good-o, although L T U has previously told staff, “banks are being cautious about any substantial increases in the total debt of the overall university sector,” (CMM May 20).