Fresh optimism over decisions made at today's meeting of EU leaders is premature, Indonesia's bond chief says, as a long-term solution is likely to take some time. "Yields in Europe will remain high, although they may not continue rising going forward," says Rahmat Waluyanto, the Ministry of Finance's director general of government debt management; "but the risk conditions in Europe and around the world are likely to be more difficult in 2013. It will take time to reach an agreement and eliminate uncertainty." European leaders pledged Friday to allow direct recapitalization of euro-zone banks and offer nations easier access to bailout funds. Bank Indonesia Deputy Governor Hartadi Sarwono adds that it remains to be seen whether the measures will really lower borrowing costs.
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