ravishingravi Posted August 3, 2011 Posted August 3, 2011 That would be like 1% of Sharad Pawar's wealth if accounted. But nehow NEW DELHI: India is set to fund bailouts in financially-stricken Europe, marking a dramatic role reversal from 20 years ago when it went knocking on the doors of the International Monetary Fund (IMF) to avert a balance of payments crisis. The government on Tuesday sought parliamentary approval to provide over Rs 9,003 crore (over $2 billion) in loans to the multilateral agency's New Arrangements to Borrow (NAB), a fund whose corpus was raised to over $500 billion in March when the debt crisis in Europe showed no signs of abating. So, from Greece, which has received $300 billion so far, to Portugal's $100 billion bailout, India could be playing a part in the international rescue operations. There are already suggestions that more funding would be required from the European Union as well as multilateral bodies. Over the past two years, amid increased stress in the global economy, the IMF has been pressed into service on several occasions and has financed bailouts in European countries facing a crisis due to high levels of debt. The 10-fold rise in the NAB corpus was the result of the new global financing order created by G20, a group of the world's most powerful economies, in the post-financial crisis era. Along with the jump in corpus, membership to the elite club of NAB contributors was also expanded to include 13 emerging economies, which included India. "The NAB is the facility of first and principal recourse in circumstances in which the IMF needs to supplement its quota resources," the agency said on its website. http://timesofindia.indiatimes.com/india/India-to-give-2bn-to-fund-bailouts-in-Europe/articleshow/9463341.cms
achilles Posted August 3, 2011 Posted August 3, 2011 Great to know that we are financing our once financiers. But seriously, don't we have debt and issues of our own?
WC2011INDIA Posted August 3, 2011 Posted August 3, 2011 India trying to show off. Why can't they use that $2 billion for the upliftment of the poor by improving education and providing better infrastructure in both small towns and villages?
Jersey #10 Posted August 3, 2011 Posted August 3, 2011 $2 bn is peanuts when talking of two countries. It's a lot when the story is about individuals.
kabira Posted August 3, 2011 Posted August 3, 2011 our inflation is unbelievably high. Government is doing ***** about it. Growth has stagnated. Our Businessmen, industrialists are investing abroad instead of investing in their own country. Last 2 years under UPA we have gone 10 years backward. The old hogs in cabinet are doing nothing about it. Fighting amongst themselves etc..Perhaps this will go down as worst government in entire history. The guy who started revolution in 92 on his debut (manmohan singh) is undoing all his work.
Roshanrocks Posted August 4, 2011 Posted August 4, 2011 ^ Voi ragazzi parlano in francese e tedesco, risponderò in italiano :giggle:
gaurav92 Posted August 4, 2011 Posted August 4, 2011 Europe :hehe: Schade Europa, alles ist vorbei :P ^ Il était grand que ça a duré ^ Voi ragazzi parlano in francese e tedesco, risponderò in italiano :giggle: Zamknij się idiotów
Roshanrocks Posted August 4, 2011 Posted August 4, 2011 ^ Je vous répondrai en nature lorsque vous postez votre prochain article
gaurav92 Posted August 4, 2011 Posted August 4, 2011 ^Oh to je od Vás velmi milé :icflove: Now lets stop it here itself :--D
Mariyam Posted August 4, 2011 Posted August 4, 2011 ^^^ What the hell are you people on about????? Alles ist vorbei = everything is lost. Thats about the only German I know. Its a common phrase used in Faust. When Mephisto tells Faust his sister has died, he screams "Alles ist Vorbei" . Its famous the same way "eureka eureka" is famous. You people should do some reading. :whack:
ravishingravi Posted August 4, 2011 Author Posted August 4, 2011 ^^^ What the hell are you people on about????? Alles ist vorbei = everything is lost. Thats about the only German I know. Its a common phrase used in Faust. When Mephisto tells Faust his sister has died, he screams "Alles ist Vorbei" . Its famous the same way "eureka eureka" is famous. You people should do some reading. :whack: **** yammi, I am impressed.
Stuge Posted August 4, 2011 Posted August 4, 2011 WTF,our govt has gone nuts to fiance europe .they better use that money to help the people who need it .
achilles Posted August 4, 2011 Posted August 4, 2011 ^^^ What the hell are you people on about????? Alles ist vorbei = everything is lost. Thats about the only German I know. Its a common phrase used in Faust. When Mephisto tells Faust his sister has died, he screams "Alles ist Vorbei" . Its famous the same way "eureka eureka" is famous. You people should do some reading. :whack: Shame on you, Gaurav. Seekho kuch.
CSK Fan Posted August 4, 2011 Posted August 4, 2011 WTF' date='our govt has gone nuts to fiance europe .they better use that money to help the people who need it .[/quote'] Its a future investment and is only going to come back to us in a bigger way. Think of it as a marketing campaign.
Chaos Posted August 4, 2011 Posted August 4, 2011 Its a future investment and is only going to come back to us in a bigger way. Think of it as a marketing campaign. we got a wanna be smart politician here boyzz :band:
gaurav92 Posted August 4, 2011 Posted August 4, 2011 Shame on you' date=' Gaurav. Seekho kuch.[/quote'] Acha :P :beee:
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