Since I took my position in Bank Indonesia, I have personally experienced formidable economic challenges [TABLE 1]. I initially joined Bank Indonesia on May 24th, 2013, just only two days after Chairman of the Federal Reserve indicated its plan to start tapering its monetary stimulus. A very brief signal from the Chairman, yet it has world-wide negative impacts.
However, one factor was underestimated when monetary union was founded: the risk of contagion means that it is difficult for the other member states to deny assistance to the country at fault and thus force it to bear more of the costs and risks resulting from its misguided fiscal policy.