President of Indonesia said European Crisis is Creepy

The impact of Europe financial crisis could be creepier than the U.S. crisis three years ago. Before entering the financial year of 2012, President Susilo Bambang Yudhoyono, also known as President SBY, gave targets to its staff to formulate efficacious and comprehensive anticipatory steps. "Maybe next week there will be policy response and action plan. Do not let the tsunami waves attacking our economy. This is an early warning, we must do everything properly," said President SBY.

SBY on Europe Crisis

He mentioned this in the plenary cabinet meeting opening on Friday (2 / 12). The meeting was also attended by Vice President Boediono, Chief UKP4 Kuntoro Mangkusubroto, and Wantimpres Chirman Emil Salim, was held at the Presidential Office, Jalan Medan Merdeka Selatan, Jakarta.

The crisis in Europe is one of the topics he discussed with the President of the Germany, Christian Wulff yesterday. President Wulff said the impact of the crisis that began in Greece and then Italy and Spain, began to hit Germany and France that have stronger economic capacity.

"The development of the economic situation in the EU, especially the Euro Zone, it's creepy. Previously the epicenter was in the U.S., one single country, now occurs in an important zone," said SBY.

Since the crisis hit the region of important players of the world economy, sooner or later, either directly or indirectly, the impact will be felt by Indonesia. All parties should be aware and cooperate quickly to minimize the adverse effects that could occur, as what was done to anticipate during the U.S. financial crisis in 2008.

"Economic issues maybe more complex, we dealt with it appropriately and based on growth and job creation. We have MP3EI; let's apply it properly and concretely, and directly addressed when there is problem. There are a lot of things we can do in addition to fiscal discipline," said SBY.

Source: Analisa, Medan