European Crisis, Greece Problem Must Be Overcome Immediately: Yudhoyono

07 November, 2011 | Source: ANTARA News

Cannes, France (ANTARA News) - President Susilo Yudhoyono has called for quick and effective efforts to overcome the European economic crisis as well as the complications caused by Greece′s decision to conduct a referendum on the EU′s bailout plan.

"The new crisis in the Euro zone must be solved correctly so that it will not drag on because if it drags on it may stymie economic development in all other countries," he said here on Thursday in a news briefing on the views and position Indonesia would present at the G-20 Summit to be opened by French President Nicolas Zarkozy.

He said he was continuously monitoring developments in the efforts to overcome the European economic crisis, especially the European Union′s plan to give an aid package to Greece and how Greece would respond to it.

"With regard to the Greek problem, I have heard and monitored it on television. We are concerned and worried that it may not be handled correctly. The impact will be bad. Indonesia hopes the Euro zone will fix it effectively," he said.

Apart from the European crisis, Yudhoyono said, Indonesia would also speak on other issues on the summit′s agenda.

He said the framework and also action plans that were produced by G-20 summits since 2008 must be implemented because they had been formulated in all seriousness and painstakingly.

"The G-20 framework is how we all can work together to increase global economic growth and create global financial stability. Indonesia′s position after the 2008 crisis must be seriously implemented. We have worked hard to prepare the framework," he said.

He said implementation of the framework was very important to overcome economic crises such as was now happening in Europe.

Referring to the fact that in the G20′s draft action plan a few countries were said to have good financial and economic fundamentals, Yudhoyono said those countries should take care not to be trapped into inaction out of fear of turning into economically problematic ones.

He said those countries, besides preventing their economies from possible collapse, must also take steps to generate a positive impact on the global economy.

About the Greek problem, he said all countries must safeguard their domestic economies using correct economic policies so that they would not be dragged into an economic crisis that would in turn put other countries in one region and other developing regions in trouble.

He said Indonesia at the summit would also express its commitment to contributing positively to the improvement of the global economic conditions by creating stable, sustainable and equitable economic growth.

He said if each country recorded good economic growth it would contribute positively to the global economy.

"Indonesia′s contribution is we will maintain our economic growth at 6.5 percent which is better than other countries′," he said.

He said the positive economic conditions in Indonesia would be maintained through correct political and economic policies such as had already been carried out so far. (P008)


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