Greece is in a shambles, the US jobless rate has never been so high and Germany, which is Paymaster General for much of Europe, is adding to the mess (“Germany could cause Euro collapse”, June 24). It’s a pretty kettle of fish and one wonders what India with its vastly different concerns is doing in the G20, which appears to be the club of the doomed, barring China and other non-European nations. German Chancellor Angela Merkel could be the cause of untold distress in Europe with her rigid budget savings policy. Despite a cautionary letters and a personal call from US President Barack Obama on the risks of withdrawing stimulus packages too quickly, Merkel says, “I told him how important budgetary consolidation was.” Maverick billionaire investor George Soros has warned that Germany’s stubbornness could lead to the collapse of the euro. But no one is listening. With such sharp division in the G20, what are the implications for developing countries? Without doubt, the developed bloc will trot out their favourite demand to countries like India: reduce trade barriers and make investments in your financial sector easier!
Preethi Nair, Thiruvanthapuram
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