Stuge 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. yeah ,this is same govt who refused to distribute wheat and rice to poor people ,which was left rotting in storage . I can see what you mean ,but being a poor country its dumb .Forget about the future ,if people die in present due to shortage of food .
Mariyam Posted August 4, 2011 Posted August 4, 2011 No point of bailing out Europe. Europe is pretty irrelevant as a continent these days. Justa few decades back, it was a hep and happening place that would go at war over minor things like race, language, colonies etc. Nowadays, Europeans only indulge in pub fights over the results of Barcelona vs England and other such meaningless football games. They don't even make good music or films there anymore. The only time Europe is relevant is when Yashraj films decides to shoot a song there. Europe is a Bollywood colony. I'd rather we bail out a needy African, Middle Eastern or South American country.
Yoda-esque Posted August 4, 2011 Posted August 4, 2011 No point of bailing out Europe. Europe is pretty irrelevant as a continent these days. Justa few decades back, it was a hep and happening place that would go at war over minor things like race, language, colonies etc. Nowadays, Europeans only indulge in pub fights over the results of Barcelona vs England and other such meaningless football games. They don't even make good music or films there anymore. The only time Europe is relevant is when Yashraj films decides to shoot a song there. Europe is a Bollywood colony. I'd rather we bail out a needy African, Middle Eastern or South American country. How about we bail ourselves out first ?:giggle:
Guest Gunner Posted August 4, 2011 Posted August 4, 2011 How about we bail ourselves out first ?:giggle: Bingo. Now that we have saved the 500 million desperately poor in India we have set out to save wealthy European bankers. :hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical:
punjabi_khota Posted August 4, 2011 Posted August 4, 2011 Bingo. Now that we have saved the 500 million desperately poor in India we have set out to save wealthy European bankers. :hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical: You just jealous cuz you brag about Europe all the time :dontknow: :finger: Good job India, give them Europeans some small change for they don't wanna work more than 32 hours a week :yay:
ganeshran Posted August 4, 2011 Posted August 4, 2011 Its a strategic move to gain a foothold in europe. Its not like the government doesnt spend on poverty. The outlay for NREGA scheme alone is 50000 crores which is around $10 billion. Its a different matter that hardly any of the money is put to useful purpose and is lost in seepage.
Clarke Posted August 4, 2011 Posted August 4, 2011 This isn't the first time we're spending money outside our country. Our total investment in Afghanistan has been in the billions. Unless we're getting a few lucrative mining contracts there or the US sticks around to keep the jihadis engaged, its not a worthwhile investment. The idea seems to be that we do not want to be left behind while China extends its influence by leaps & bounds. If they can host the Olympics, we're gonna host the CWG just so that we're not forgotten. Similarly, they can buy all the US treasury bonds they want, we'll do our fraction here and there.
Mariyam Posted August 5, 2011 Posted August 5, 2011 So we fund these people??? Irish parliament in action.... [ame= [/ame] Europe, oh Europe. :P
Stuge Posted August 5, 2011 Posted August 5, 2011 ^ indian MPs are no less than these ,but the point is NO BAILOUT for europe from our tax paid money .
Vijay.Sharma Posted August 5, 2011 Posted August 5, 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:WTF: idhar saala lakhon ko do waqt ki roti bhi nahi milti aur apne hero log europe ki "bailout" ke liye paise bhej rahe hein? I know we have our part to play in international relations and all but shouldn't you feed the hungry here first instead of sending funds abroad? I can understand when it's a natural disaster or something like that but come on an effing "bail out"? And that too for a fu
Vijay.Sharma Posted August 5, 2011 Posted August 5, 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.This is where people don't credit the real deal...PV Narasimha Rao. As per my opinion he was the best PM we have had...the bugger was total chanakya - master politician and although he had his corruption gotalas with chandraswami during the end years, he did more for India than all of the then-previous-and-next-two PMs put together. Start dynasty rant /- This dynastic polity in congress is really shallow and robbing the country of better representation. When Congress has some really brilliant individuals, who I think are doing great as Ministers, why do they continue to suck up to the nehru family? Even dogs can learn a thing or two about loyalty from these brilliant individuals - each of these fellows are institutions in loyalty and @ss-licking. Damn it! Have the bloody confidence to stand for yourself. I am talking about ppl like Jai Ram Ramesh, Sibal, Mukherjee, Manmohan Singh, Kamal Nath, etc. These guys are brilliant individuals and yet they need to keep licking the nehru family. For what? Don't you feel offended that this Rahul fellow is being championed as some kinda Prince of India and future Emperor of the nation? We are a democracy, damn it. -/ End dynasty rant
achilles Posted August 5, 2011 Posted August 5, 2011 So we fund these people??? Irish parliament in action.... Europe, oh Europe. :P The guy talks like :punter:
achilles Posted August 5, 2011 Posted August 5, 2011 Its a strategic move to gain a foothold in europe. Its not like the government doesnt spend on poverty. The outlay for NREGA scheme alone is 50000 crores which is around $10 billion. Its a different matter that hardly any of the money is put to useful purpose and is lost in seepage. Yes. I understand that this is a strategic "masterstroke" maybe, which would ensure we get more support and orders from Europe. But $2bn is seriously too much. Seriously, $2bn for these guys based on a hitch that we could become the MFN for them is an expensive proposition.
Vijay.Sharma Posted August 5, 2011 Posted August 5, 2011 No point of bailing out Europe. Europe is pretty irrelevant as a continent these days. Justa few decades back, it was a hep and happening place that would go at war over minor things like race, language, colonies etc. Nowadays, Europeans only indulge in pub fights over the results of Barcelona vs England and other such meaningless football games. They don't even make good music or films there anymore. The only time Europe is relevant is when Yashraj films decides to shoot a song there. Europe is a Bollywood colony. I'd rather we bail out a needy African, Middle Eastern or South American country.Disagree with the bold-ed part. Europa is very much relevant when it comes to those arts. But point taken about bailing out poorer countries (in fact I'd prefer if we just shut the trap and bail ourselves out first). Point to be made though: Middle East and poor?
ganeshran Posted August 5, 2011 Posted August 5, 2011 Yes. I understand that this is a strategic "masterstroke" maybe' date=' which would ensure we get more support and orders from Europe. But $2bn is seriously too much. Seriously, $2bn for these guys based on a hitch that we could become the MFN for them is an expensive proposition.[/quote'] Its a 2 billion dollar loan, not a handout, which is not a humongous amount when it comes to dealings between countries. We need better relations with the world and access to their markets. This is a step towards that.
ravishingravi Posted August 5, 2011 Author Posted August 5, 2011 Its a 2 billion dollar loan, not a handout, which is not a humongous amount when it comes to dealings between countries. We need better relations with the world and access to their markets. This is a step towards that. I live in what is the financial capital of this country. 78% of the city lives in slums. Just giving the strategic perspective of this strategic donation. It makes little sense.
ganeshran Posted August 5, 2011 Posted August 5, 2011 I live in what is the financial capital of this country. 78% of the city lives in slums. Just giving the strategic perspective of this strategic donation. It makes little sense. How do you propose we alleviate poverty in India? what should this 2 billion be used for exactly?
ganeshran Posted August 5, 2011 Posted August 5, 2011 The thing is that trade relations are very important for a country like India which doesnt have very strong domestic demand as of now. Access to markets isnt free, so we need to pay more for it. Trade is what generates more employment in the country which creates further secondary employment opportunities - (like cabs, autos, hotels etc). If people dont have the purchasing power to afford these services, then we wont have all these additional forms of employment either. Inclusive growth in a heavily populated country like ours is not possible to achieve overnight (would be happy to proved wrong on this). It has to trickle down to the lower levels.
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