To understand easily think a man who is poor but he want to fulfill his dreams and necessity, make friendship with rich people who will support him to strengthen its economy. He yook loan and make his friend gaureenter when the time of repaying loan he is not able to pay loan. His friends back off because their wife’s has refused to give money to help the man, this has reason the economic growth. So in this condition many relationships are in trouble. Now let us understand the effects of on the world economy, suppose in a classroom if one boy has conjunctivitis other students will come in its effect sooner or later.
Greece economic effect will affect the Indian economy because in globalization all world economy is connected to each other; one small or big economy system fluctuates. It has impression on whole world economy. Greece economic condition will affect the europe and there are many trade relation among the Europeon market and Indian market.
Refferendom on 5th July result as “no” 61% people voted “no”, this make Greece out of the Euro currency and to pront its own currently. However Dr. Holger Schmieeing chief economist at Berenliery Bank in London warns that printing own currency will spark more economic and slow does.
How will India be affected -
- Expot – India is the largest trading partner with USA 129*billion merchandise. Crises in Europe will only deteriorate the prospects.
- Capital moment – Interest rate will be higher as money country like Spain, Italy are not economically strong. Exports are confused here and how will they invest in India.
Indian foreign exchange reserve has own USD 355 billion and this will make country to fastest route in the world. This says that India can withstand with any Greek oasis.
(Written By Umang Thakur)
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