Recession Watch

re: Recession Watch

N.Ramagopal — Wed, 19 Nov 2008 08:00:28 GMT

Going by the headlines, our political leaders are yet to emphatically acknowledge that the Indian economy is in for bad times. One still comes across statements like "Indian economy will not face recession" from people who ought to know better. Or is it that they do know better but think they are fooling us? What scares me is that if the political leaders are really deluded enough to believe that God is in his heaven and all is right with the world, they will not take steps to minimize the damage caused by the economic catastrophe.

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re: Recession Watch

sudheer Mopperthy — Thu, 13 Nov 2008 14:36:47 GMT

G 20 leaders will be meeting next weekend at a summit (emergency) on how to reshape the global financial system and give greater importance to developing nations. A showdown appears to be brewing about whether broader groupings like the G20 should supplant the elite, rich-country G7 as the main forum governing the world economy. France, which holds the rotating European Union presidency, is leading a drive for tough new regulations and oversight in financial markets.Many countries want to beef up the IMF and some want to give it a regulatory surveillance role.The United States, Britain, Canada and Australia are worried that too much regulation could restrain a free-market system and dim the prospects for economic growth. There have also been questions as to how far such a summit would go since the host President is already on his way out, as he will handover power to Obama and aides close to Obama have disclosed that Obama would not be attending the controversial meeting.