15 juin: ADLPartner : COMPTE RENDU DE L'ASSEMBLEE GENERALE MIXTE
18 juin: Netgem élargit son offre aux boxes mobiles
16/06/2012 17:05:00

UPDATE: Indian Policy Makers Fret Over Europe's Troubles, Greece's Fate

--Situation in Europe is of particular concern, Indian prime minister says

--Concerns over Greece's fate in the euro zone, Indian finance minister says

--Rupee's depreciation closely linked to euro-zone crisis, finance minister says

(Rewrites first paragraph, incorporates comments from Indian finance minister starting in eight paragraph)

By Khushita Vasant

MUMBAI--Indian policy makers Saturday worried about the frail financial health of the euro zone, particularly expressing anxiety over Greece's fate in the currency bloc a day before the country goes to the polls.

Indian Prime Minister Manmohan Singh said continuing economic problems in the region could hurt India's growth, which has already slowed to a worrisome level.

"Europe accounts for a significant share of the global economy and is also India's major trade and investment partner," Mr. Singh said in a statement before leaving for a Group of 20 summit in Mexico.

G-20 finance ministers and central bankers are meeting in the shadow of a troubled Europe and faltering global economy.

Europe faces a momentous Greek election Sunday. Governments and central banks around the world are bracing themselves with contingency plans for the prospect that Greece could leave the currency union following Sunday's vote.

Greece's election results will come the night before the summit begins, and is expected to weigh on discussions.

"It is our hope that European leaders will take resolute action to resolve the financial problems facing them," Mr. Singh said.

Separately, India's finance minister Pranab Mukherjee said the domestic economy is passing through a difficult time. While the south Asian nation struggles with macro-economic problems of its own, it is equally buffeted by global headwinds.

Mr. Mukherjee said there is trepidation over Greece's fate in the euro zone--its ouster from the bloc could further weigh on risk-sensitive emerging economies like India.

The turmoil has hit the Indian rupee, which depreciated nearly 19% against the U.S. dollar over the past 12 months.

"I am aware of the fact that there has been devaluation and uncertainty over the rupee, which is closely linked with the euro-zone crisis. It is a matter of concern," Mr. Mukherjee said in a speech at an event.

But, India's economic troubles don't end there.

A weakening rupee pushes inflation higher, while other trouble spots--bloated deficits on the budget and current account--further cloud the economic outlook.

Meanwhile, exporters must take advantage of a weakening rupee, even though Europe--a key export market--shows tepid demand, Mr. Mukherjee said. "In the context of the current account deficit and going by slow exports growth, this clearly demands that we must diversify our export destination and also our export basket."

Mr. Mukherjee said he is confident the Reserve Bank of India will keep these in mind and "adjust" its monetary policy.

India's sputtering gross domestic product and factory output growth have led to a clamor for monetary easing.

The central bank meets Monday for its rate-setting meeting.

Write to Khushita Vasant at khushita.vasant@dowjones.com

(END) Dow Jones Newswires

June 16, 2012 11:05 ET (15:05 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

15 juin: ADLPartner : COMPTE RENDU DE L'ASSEMBLEE GENERALE MIXTE
18 juin: Netgem élargit son offre aux boxes mobiles

Envoyer un commentaire

Related debate

  • 1 semaine
  • 1 mois
  • 1 an
08 févr.
OMXC20
      På en dag som i dag med kursfald på +5% er det ekstra vigtigt at tænke og handle rationelt. He..
53
12 févr.
OMXC20
  Jeg har over de seneste 12-18 måneder skrevet en række insights om, hvordan man bliver en bedre in..
40
13 févr.
OMXC20
  Her kommer sidste bidrag i den række af Insight jeg har postet for at hjælpe unge og ambitiøse inv..
23
10 févr.
FING-B
lhome .... (16.08) .....   Du skal være klar over at du har gang i at overveje een af de mest volati..
22
09 févr.
OMXC20CAP
Det er egentlig ganske morsomt. Men et menneskeligt træk, især blandt handyr af racen, er ofte, at m..
19
13 févr.
EXQ
Dette er en kommentar til indlægget hos Mesell den 9 februar.   Du siger at Exiqon´s regnskab kun gi..
18
11 févr.
ABIRUS
Den største trussel mod europa er europas egne elendige politikere. De mangler mod, visioner og miss..
18
13 févr.
SUNE
Onsdag kl 14:00 lokal tid starter Chancellor Bouchard  sagen CA#11898-CB, som drejer sig Terraform P..
17
09 févr.
OMXC20
skal man  ikke sælge - men vælge det rigtige tidspunkt at købe - om det er i dag, er svært at foruds..
15
07 févr.
ZEAL
Jeg har set lidt på de patent sagerne som køre mellem AstraZeneca, Sanofi og TEVA omkring GLP-1'er. ..
15

Actualité la plus lue

  • 24 heures
  • 48 heures
  • 1 semaine

Buy and sell signals

  • Tendance
  • Moneymachine
Vendre
Vendre
Vendre
Vendre
Vendre
Vendre

Droit d'auteur Euroinvestor A/S 2016   Mentions légales et conditions d'utilisation
Information sur les cours fournies par Interactive Data.
Les données sont différées de 15 à 20 minutes selon les accords avec les différentes bourses internationales.
 
dimanche 14 février 2016 15:35:05
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160212.1 - EUROWEB6 - 2016-02-14 15:35:05 - 2016-02-14 15:35:05 - 4 - Website: OKAY