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Vice President Boediono said on Friday that the Bank Century bailout was the right step to save the Indonesian economy from the impacts of the global crisis.

“The bailout has shown its result. We survived the global crisis,” Boediono said during a press conference.

“It had never crossed my mind or Sri Mulyani Indrawati’s (mind) as the head of Financial System Stability Committee (KSSK) to take personal advantage from the (bailout) policy, let alone to cause damage to the country,” he said.

Boediono said that the bailout did not hurt the country and any potential damage was far less that the damage that may have been caused if the ailing lender was allowed to fold.
“If Bank Century had been shut down, it would have damaged our financial and banking system because we would have joined the global crisis. If our banking system was damaged, it would have had impacts not only for the bankers or the owners, but for all Indonesian people,” he said.

According to Boediono, Bank Century was like a burning house that threatened other houses nearby.

“We had to save the house and keep the fire from spreading even though the house owner was a robber. The robber must be arrested, but we can’t let the fire from his house burn down the whole village,” Boediono said.

“I am sure that the decision I took was right and it was the best for our economy back then. Therefore, I am ready to take responsibility for it in my living days and the afterworld,” he said.