Safeguarding European monetary union

Crisis has its own utility in human life. When things go normally, people tend to overlook fundamental systemic anomalies believing that they hardly exist. It is only when things do not remain normal any longer and a crisis situation looms large, do people recognize the  anomalies and the systemic faults even as they struggle to find the reasons for the crisis. What follows are reforms aimed at correcting the faults and thereby ensuring that a similar crisis does not occur in the near and distant future. In the process of bringing the global economy back on track, much needed global economic reforms agreed by the major economies of the world, albeit after much debate and deliberation finally seem to be on the anvil.
G20, in order to fight economic slowdown and combat corruption, has expressed confidence that $450 billion firepower of the International Monetary Fund (IMF) would help in safeguarding financial stability and preventing global crisis.  It has called for collective action to deal with financial market tensions and promote trade, growth and jobs. The entire cynosure of the summit was to evolve effective ways to get rid of contagious eurozone debt crisis. G20 has urged Europe to take concerted effort to resolve financial crisis. The European leaders said they will take all necessary measures to safeguard the integrity and stability of the euro zone to improve the functioning of the financial markets.

The series of Secretary level meetings that had taken place between India and Pakistan within a span of a few months, starting with the meeting between the Home/Interior Secretaries and concluding with the Foreign Secretary level talks paved the way for the visit of Pakistani Minister of Foreign Affairs, Ms. Hina Rabbani Khar to India andher meeting with the India External Affairs Minister, S.M.Krishna. Scarred once again by terror at- tacks on its financial capital justpriorto the Pakistani Minister’s visit, India showed maturity by rolling out the red carpet to its neighbor and not allowing the recent Mumbai attacks once again derail the dialogue process.

Transforming competition into cooperation

There was enough space in the world for both the nations to further their business interests; China and India are partners for cooperation and not rivals. My visit is aimed at promoting friendship, expanding cooperation, building on our past achievements and opening up new dimensions for mutual benefit and common development of the two countries.” Wen

India has seen the five major powers visiting India in the last five months which indicates the centrality of India on the global platform

DAVID
CAMERON

UK, JULY 27-29
On UNSC Seat
Recognises the need to reform UNSC to suit the needs of today. Revamping of UNSC would require the role of emerging powers like India. UK has extended support for India’s UNSC aims.
Terror and Pak
Terrorism is an area of cooperation between the two. Pakistan’s role in terrorism (both in India and the West) is undeniable and unacceptable.
Iranian issue
Iran found no mention in the speech of David Cameron.
Trade Targets
have been expanded from $11.5 billion to around $24 billion by 2014.
Assessment