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