Page-26 of European Union Current Affairs, GK & News

Indian GDP to crawl at 6.7% in 2012: UN

The UN hewed down its growth predictions for India for the year 2012 by predicting a 6.7% growth rate rather than a 7.7% rise estimated earlier. UN declared Eurozone Debt Crisis as the biggest threat to the world economy. As per UN:- Global economy to grow by 2.5% in 2012 and 3.1% in 2013. It ..

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Q4 GDP growth drops sharply to 5.3%, lowest in 9 years

Yearly economic growth of India dipped to a 9-year low of 5.3% in the January-March 2012 quarter. Even during the 2008-09, the year when India was facing the hit by the global financial meltdown, growth rate was higher at 6.7%. It is the lowest growth rate since 4.0% in 2002-03. Some of the factors being ..

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IMF pegs India’s growth in 2012 at 6.9%

The IMF (International Monetary Fund) has pegged growth in India’s GDP for 2012 at 6.9%, scaling down the forecast by 0.1% points, compared to its projection in January 2012. It attributed the moderating growth outlook to policy dubiety, supply constrictions, high interest rates and low external demand. Step-up of the euro zone crisis and tensions ..

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‘Van Rompuy’ again elected as European Council President

The mandate of European Council’s current President Van Rompuy has been increased by another 2.5 years. This was decided at a meeting of the Leaders of EU in Brussels. The former Belgian Prime Minister was the only candidate for the post.

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European Financial Stability Facility

European Financial Stability Facility (EFSF) is a SPV (special purpose vehicle) financed by members of the Eurozone to combat the European sovereign debt crisis. It was agreed by the 27 member states of the European Union on 9 May 2010, aiming at preserving financial stability in Europe by providing financial assistance to Eurozone states in ..

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