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Earl Wilson
Euro- The common currency for Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain
Jan 2010
Apr 2010
May 2010
July 2010
raise 50bn by 2015 Head of the Eurozone finance ministers backs Germany's proposal for a "soft restructuring" of Greece's debt The EU welcomes Greek parliament's vote in favor of a severe austerity package that has sparked strikes Greece can now receive the latest 12bn tranche of a 110 bn loan, instead of defaulting Eurozone finance ministers approve new bailout package for Greece worth 109bn
Aftermath
Ireland, Portugal, Italy, Spain and France also undergo
similar situations like Greece Government Deficit for all these countries in negative as % of GDP Public Debt to GDP more than 100% in most of these countries 10 year government bond yields less than 5%
Employment eligibility
information Not based on mathematical formulas Judgment and experience Political risk Economic risk Payment default risk
Impact On India
Mixed Reactions from India I dont think India will be much affected beyond the temporary market jitters and we should still grow at 8.2% - C. Rangarajan, chairman of Indian Prime Minister Manmohan Singhs Economic Advisory Council US and Euro credit rating downgrade may impact India's IT, gems & jewellery exports: FIEO(the Federation of Indian Exporters )
Other Impacts.
Gold Surge in gold prices Tourism 8-10 per cent dip in total inbound tourists Foreign Investments India remains to be attractive destination