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Economic issues take a back seat at G20 summit TVS Logistics – another acquisition to sharpen the business model Veritas Finance- financing the unfinanced IFCI to raise NCDs upto Rs 2000 crore - Strategy war escalates between Hero and Honda Backpack laboratory Nothing to hide... Celebrating 180 years of relevance World labour laws at a glance Reality bytes Tata Steel commence operations at Kalinganagar Time to fast-pace the logistics sector Durga - India’s largest blast furnace; now operational Dynamic e-commerce scenario ALL to launch electric busses Waste, a gold mine Flexible labour laws… Bridging the skill deficit in pharma industry Four daughters and a proud father Celebration time at MS Chola Towards peace of mind Climate change may change the way businesses work... ALL-two launches in a row Changing dynamics in human resource management LVB gears to become a financial supermarket Adding Zest to Scooty Nigeria comes nearer ECGC expands operations Economic, business and social sustainability Schwing Stetter India joins hands with US-based Gomaco TCS’ revenues cross Rs 100,000 crore BRICS development bank Housing Innovation Challenge, 2015 Business Breif Three more leather clusters… CUB: towards card-less withdrawal Murugappa- a year of consolidation European crisis is a global crisis! Digital retail transactions stabilise at higher level… More gensets and diesel engines from TAFE Secured NCDs from Shriram City WABCO’s second Chennai plant Placing the right shoe forward... Rating of states to be released soon SumInfra- corridor based development... Curbing steel imports will hurt small business... Pharma market dozes An American alliance in the chemical industry? Indigo stays leader with 40 per cent share Chola MS launches motor app Downsizing spree... Realty sector takes a break... Chennai to get a roundabout Metro Big-ticket investments march towards Punjab Scoot offers just Rs.13,500 to ANZ... People Flow Day- Safety Ridley marathon to India Well-refined – RIL’s refinery margins zoom Apple maps – finding its way Techies trip to India Research needs more funding Focus on self-certification and third party inspection Industry-well poised to invest on expansion TII-challenging year with flat growth Carrefour’s quick exit Airlines wage price war STFC raises money TII’s single largest investment at Thiruthani Innovation that helped Chennai port A global plastic event in India Need to focus on ease of doing business... Make way for the new and dynamic railways An aerospace-defence cluster in Tamil Nadu… Illicit markets a concern to growing economy Auto test tracks launched at GARC Oragadam campus TOP 10 CEO Compensation The new look- 4s Verna Brand leaders come forward... Sun Edison launches solar pumps Purdue and IIT-M sign the dotted line OBO Bettermann for better lightning protection Business Briefs Holiday Inn opens in OMR Chennai When Centre visits the state Investor friendly Japan Realising double digit growth in Tamil Nadu Chennai Port is at last decongested! ALL – truck industry is recovering from degrowth Indian Bank – global businesses crosses Rs 3 lakh crore... Chennai will soon get its World Trade Centre TN budget pragmatic and moderate on fiscal deficit ISRO's 100th mission Blue Star plans a new plant in south Automotive Vision Plan II... Creating Tamil Nadu Banana brand Connecting the unconnected AirAsia India infuses funds to fight out competition Smart controls for cooling large multi-zone spaces ... Hyundai excites again On the ‘milky’ way Is Indian telecom industry heading for a monopoly? Hero Motocorp - smooth ride TiE applauds innovative entrepreneurs Applauding enterprise... Gem of social service... Inclusive and forward moving... Striking cords for 25 years… Chola MS net crosses 100 crores Steel loses its sheen
 
European crisis is a global crisis!

“When Argentina and Chile underwent crisis, it was termed as Latin American crisis. When Thailand and its neighbouring countries underwent the same, it was termed as Asian crisis. But when countries like Spain, Portugal and Greece undergo crisis, it is called as global financial crisis. The Europeans have the knack of calling their own crisis as a global one,” said Dr R Vaidyanathan, Professor of Finance and Control, IIM-Bengaluru.

Addressing a Hindustan Chamber of Commerce’s Economic Lecture series, Vaidyanathan stated that European countries are terming their conflicts as a global one for the past 50 years. Huge amount of debts procured by all these countries were cited as the major reason for the meltdown. Overall debt percentage to GDP in Spain, France and Italy is over 300 per cent, while  Britain’s is approximately 500 per cent. Crisis occurs when borrowing goes beyond a point. In all these countries, people are not worried about savings, but about consumption. Household debt percentage in all these countries is in the range of 80-100 per cent. In contrast, Brazil, India and Russia have the lowest household debt percentage of 0-20 per cent.

Vaidyanathan said: “50 per cent of youngsters in Spain are jobless, mainly due to lack of skillset, followed by Greece with 48 per cent, Portugal and Italy with 30 per cent and Britain with 22.3 per cent.”

On India, Vaidyanathan said that growth of Indian GDP is majorly driven by unorganised businesses. The presence of so many unorganised businesses will probably be integrated through the launch of MUDRA Bank announced in the recent budget.

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