ID :
94384
Fri, 12/11/2009 - 10:09
Auther :
Shortlink :
https://www.oananews.org//node/94384
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DECISION TO BAIL OUT CENTURY BANK CORRECT : OBSERVER
Jakarta, Dec 10 (ANTARA) - An economic observer from state University of Indonesia, Faisal Basri, said the decision to bail out Century Bank was right and had saved Indonesia from a crisis.
"Almost all parties have said that the situation at the time was very alarming and statements issued at the time were even more frightening," he said at a seminar on Indonesia`s economic and political prospects held in connection with the 72nd anniversary of LKBN ANTARA here on Thursday.
He let all parties recheck the statements made by various parties regarding the threat of economic crisis from October to December 2008.
"Just recheck them. They sounded as if doomsday would soon come," he said.
He said the situation at the time was indeed full of risks and in case the decision made was wrong the consequences would be disastrous.
"The conditions at the time were risky but because of the bailout of the Century Bank, the calamity did not happen," he said.
Basri called for a quick effort in disclosing the substantial truth in the case.
He said those who knew about the problem had to speak up to explain about the real situation.
He said right now a lot of people who did not understand the problems had talked much causing a dramatization of the case.
"I am not afraid to speak differently. I believe that what is right will come while politicians who are not qualitative will be abandoned by the people," he said.`
On a different occasion, economist from Global Nexus Institute, Christianto Wibisono, also said that the government`s decision to bail out the Century Bank in the midst of crisis in 2008 was right.
"If the bank was not bailed out, the funds of the third party totaling Rp600 trillion or 40 percent of Rp1,500 trillion of total funds in banks could be threatened by a run," he said at a discussion here on Thursday.
He said from a political economic point of view the decision of vice president Jusuf Kalla at the time to order the arrest of the bank`s owner was also right because they had committed a crime of embezzlement in the midst of a crisis that could have a systemic effect. ***2***
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"Almost all parties have said that the situation at the time was very alarming and statements issued at the time were even more frightening," he said at a seminar on Indonesia`s economic and political prospects held in connection with the 72nd anniversary of LKBN ANTARA here on Thursday.
He let all parties recheck the statements made by various parties regarding the threat of economic crisis from October to December 2008.
"Just recheck them. They sounded as if doomsday would soon come," he said.
He said the situation at the time was indeed full of risks and in case the decision made was wrong the consequences would be disastrous.
"The conditions at the time were risky but because of the bailout of the Century Bank, the calamity did not happen," he said.
Basri called for a quick effort in disclosing the substantial truth in the case.
He said those who knew about the problem had to speak up to explain about the real situation.
He said right now a lot of people who did not understand the problems had talked much causing a dramatization of the case.
"I am not afraid to speak differently. I believe that what is right will come while politicians who are not qualitative will be abandoned by the people," he said.`
On a different occasion, economist from Global Nexus Institute, Christianto Wibisono, also said that the government`s decision to bail out the Century Bank in the midst of crisis in 2008 was right.
"If the bank was not bailed out, the funds of the third party totaling Rp600 trillion or 40 percent of Rp1,500 trillion of total funds in banks could be threatened by a run," he said at a discussion here on Thursday.
He said from a political economic point of view the decision of vice president Jusuf Kalla at the time to order the arrest of the bank`s owner was also right because they had committed a crime of embezzlement in the midst of a crisis that could have a systemic effect. ***2***
T.A039
