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