[Business leaders have called for immediate action from the President to prove her leadership saying they fear social revolution if the government fails to unite to act decisively. The country's economy will be seriously set back by the bombings – with the tourism industry the first and most obvious casualty.]

Presenter/Interviewer: Karon Snowdon, Finance correspondent

Speakers: Sofjan Wanandi, Head of the Committee for Economic Recovery in Jakarta; Peter Neilson, a butcher in Bali; Mr Ardono from the Bali Travel Centre

Snowdon: The immediate impact of the Bali tragedy will be felt on the tourism industry which earns the nation $US6-billion a year – but many others will be caught in the shockwaves. Thousands of small businesses, which produce goods and services, will be affected adding to already high unemployment.

Sofjan Wanandi heads a consortium of 38 leading business groups called the Committee for Economic Recovery formed to advise the government on policy. An upset Mr Wanandi says he's angry at the Indonesian government for ignoring warnings about possible terrorists threats.

Wanandi: "I don't believe that we can stand [it] as it is because we have all these crisis already and you can imagine that you have so many unemployment is going on in Indonesia. And if you don't do anything in recovering our economy, I don't see – I don't know what could happen and I didn't know whether we can go through, ... through all this bad things that I'm not willing to talk [about] now."

Snowdon: If things don't improve what's the outlook for Indonesia?

Wanandi: "We are not willing to go through a social revolution here or break this country but I think if the government is not serious this time I think there is no more time for them."

Snowdon: On Bali itself, the normally peaceful community could face unfamiliar social tensions.

Peter Neilson has spent five years running a butcher shop and restaurant and supplying Australian meat products to other restaurants close to Kuta. He's optimistic about the island's future but says people are shocked.

Neilson: "I'm just hoping we get through it and there's no ... because now there's a lot of anti-Islam talk, so I just hope that we don't see factions you know, problems between factions. I don't know what's going to happen."

Snowdon: Do you think the people of Bali might have been a bit complacent, considering themselves separate from the rest of Indonesia some parts of which have seen some significant unrest in recent years?

Neilson: "I believe so because I must admit I was complacent, I said well nothing's going to happen here, we're bullet proof. I was so wrong, and it was just so horrific."

Snowdon: This latest outrage could be more devastating than the 40 per cent contraction that Bali's tourism industry suffered after the September 11 attacks in the US.

But it had been recovering and meant Mr Ardono from the Bali Travel Centre could expand his business from one to two offices. Now he expects no recovery for at least a year and says there will be much suffering among locals dependent on the industry.

Ardono: "Very difficult because around 80 per cent of people in Bali live by tourism."

Snowdon: And do you think the Indonesian government can help Bali now?

Ardono: "I hope so but we have to trust the government to investigate."

Snowdon: There can be no overstating the impact of the weekend bombing on Indonesia's economic outlook. The currency the rupiah dived and the tiny stock market's composite index fell more than 9 per cent by midday.

Already low investor confidence both domestic and foreign will suffer further, while governments advise businesses as well as tourists to stay away.

Sofjan Wanandi says foreign business visitors are already cancelling planned conferences and like Ardono from Bali, he wants to see decisive leadership from Jakarta.

Wanandi: "What they have to do they have to be more firm in arresting all these people that are responsible for what is happening in Bali I think, not only discussions but we'd like to see the actions now."

Snowdon: Do you think the Indonesian community now will it strongly insist the government more strongly investigate?

Wanandi: "That's right, ... I think we can't postpone anymore this and the government has to be united also to take all the necessary actions, and not only in discussing and blaming each other like usual."

Snowdon: Do you think the government will now unite; there has been some divisive notes between the President and the Vice President?

Wanandi: "I hope they will be united after the cabinet meetings today, I think the government, and the President especially, has to show her leadership."