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