Greece has been struggling hard to meet the requirements needed to be a member in the Eurozone. Moreover, following the 2008 financial crisis in the US, Greece’s economy got smaller by 25% since 2009. Germany, France, Italy and Spain are the most important economies accounting for most of the Union’s GDP.Read More →

From 1980 to 2012, India’s economy has come a long way. The regulatory structure of the economy and many sectors have seen a vast change. Along with a prominent services sector, the financial markets have developed too.They are more cushioned than before to face triggers in the economy.Foreign exchange reserves are larger and exchange rates are more market determined. In 1991 , India had an administered rate, private inflows were less and there were no dollars left for imports and hence new credits were not allowed. The government was about to default and only 3 week’s imports could be supported. Dr. Manmohan Singh, the finance ministerRead More →

Last year in November,2011, Indian Banking industry had been downgraded by Standard  & Poor’s (S & P) from stable to negative. The US credit crunch and Euro Zone crisis have had a major role to play in the downfall of some of the other major economies in the world.When asked last year on the reaction of the downgrade, the government called it of  ‘no significance’ and said that the financial system was much healthier and stronger owing to country’s  strong lending system.This rank was looked through by Financial Services Secretary D.K. Mittal who said “We are not concerned. We are not affected by the downgrade. Looking atRead More →