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