First was the downgrading of the American Economy by S&P from AAA to AA+ and now Europe seems to be in the doldrums with the weaker economies of the Eurozone (read Greece, Portugal) on the brink of default and the stronger economies registering negligible growth (as seen in France, Germany). Even Italy (one of the G7 countries) has had to pass austerity measures to keep its debt in control. Spain is struggling similarly. Whether this crisis will blow over soon is a million dollar question. But its definitely taking majestic proportions and threatening to go out of control at the moment.
The domestic economy is also paralyzed by high inflation and policy deficit. The ruling government is finding things difficult to get its way and political apathy is adding fuel to fire.
Right now, we can only hope that this vicious cycle gets a quick fix solution.
"....The greatest discovery of my generation is that a human being can alter his life by altering his attitudes of mind...."
The domestic economy is also paralyzed by high inflation and policy deficit. The ruling government is finding things difficult to get its way and political apathy is adding fuel to fire.
Right now, we can only hope that this vicious cycle gets a quick fix solution.
"....The greatest discovery of my generation is that a human being can alter his life by altering his attitudes of mind...."
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