International financial crises and the ASEAN economies

Public road infrastructure and building construction rise up at Indonesia's capital city of Jakarta on December 12, 2011. A week earlier The Asian Development Bank trimmed its 2012 growth forecast for emerging East Asian economies as the eurozone turmoil threatens to drag the global economy back into crisis. (Photo: AAP)

Author: Arief Ramayandi, ADB

The slow resolution of the European debt crisis has evolved into a liquidity problem which threatens the global financial system.

And these long-drawn-out efforts to address the sovereign debt problems have heightened uncertainties about resolving the crisis and induced speculative activities, threatening the survival of many European banks. Read more…