Close watch on EU crisis: Sharma
NEW DELHI, May 10: India on Monday said it is keepinga close watch on the European debt crisis, though it has not seen any significant adverse impact on its economy.
“We are keeping a very close watch on the situation (the European crisis). So far, there is no adverse impact of significant nature,” Commerce Minister Anand Sharma said here.
“I don’t foresee in the immediate context any major impact which would create an alarming situation here,” Sharma told reporters on the sidelines of a conference organized by the Tea Research Association of India. A crisis of confidence in Europe has been triggered by a potential debt default by Greece. Investors worldwide are concerned that Greece’s sovereign debt crisis could spread through the Euro zone and affect world economic recovery. To stabilize world financial markets and curb speculative attacks on the euro, the European Union (EU) finance ministers have pledged an emergency loan package with IMF support touching $1 trillion. (IANS)
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