ID :
22813
Mon, 10/06/2008 - 06:58
Auther :
Shortlink :
http://m.oananews.org//node/22813
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KADIN: MAINTAIN NATIONAL BANK LIQUIDITY
Jakarta, Oct 05 (ANTARA) - The Indonesian chamber of commerce and industry (KADIN)'s fiscal and monetary standing committee chairman, Bambang Soesatyo said the government and monetary authorities had to maintain national bank liquidity to avoid the world financial crisis.
"Government and monetary authority should also promote public confidence in the current banking system so we can avoid the impact of the financial crisis," he said here on Sunday.
He said that the US financial crisis also hits Europe, which is shown by the holding of the mini-summit conference attended by France,Britain, Italy and Germany.
The summit will seek the right emergency step to minimize the US financial crisis impact. France planned a 416 billion US dollars aid package to help the troubled banks.
Meanwhile Britain and Germany prefer a case by case approach to the matter facing their banks. Even the Bank of England is giving a liquidity aid to Northern Rock Bank, which is a dramatic British central bank intervention.
"The mini-summit conference proves that Euro zone had a serious impact of the US financial crisis," Bambang said.
Thus, the approval of the US Senate US congress of the US $700 million bailout package has not yet settled the crisis, because a recession now is threatening Europe.
"Government and monetary authority should also promote public confidence in the current banking system so we can avoid the impact of the financial crisis," he said here on Sunday.
He said that the US financial crisis also hits Europe, which is shown by the holding of the mini-summit conference attended by France,Britain, Italy and Germany.
The summit will seek the right emergency step to minimize the US financial crisis impact. France planned a 416 billion US dollars aid package to help the troubled banks.
Meanwhile Britain and Germany prefer a case by case approach to the matter facing their banks. Even the Bank of England is giving a liquidity aid to Northern Rock Bank, which is a dramatic British central bank intervention.
"The mini-summit conference proves that Euro zone had a serious impact of the US financial crisis," Bambang said.
Thus, the approval of the US Senate US congress of the US $700 million bailout package has not yet settled the crisis, because a recession now is threatening Europe.
