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