Will Australia enter a shutdown like USA on 12 December as it reaches debt ceiling of AU$300 billion?

Sydney: It seems, Australia is standing at the threshold of an abyss. The world’s 12th largest economy is surounded with worries that it will enter into a shutdown if the economy’s debt ceiling is not further raised soon. Australia’s current borrowing limit is AU$300 billion.
                                                  

Australia shall reach the cap by 12 December, which needs to be resolved else the whole country could enter a US shutdown scenario. Australia Prime Minister Tony Abbott Liberal-National coalition has a majority in the lower house, while the Labor Party and Greens have the majority in the upper house.Read more at-http://daily.bhaskar.com/