greenxgene

  There were chain of events that lead to the fall of Rupee’s value against US Dollar. Let me list out the events in a sequence. Though I’m not a financial expert I have penned down what I’ve learnt from this crisis. Financial crisis erupts in various nations like Greece, Italy, Spain, Ireland in European Union as a result the stability of European Union came in to question. Financial crisis in Greece worsens even after several bailout package provided by other members of EU (mainly contributed by France and Germany). Bailout package is like a loan granted to the country, which the country has to repay once their economy is stabilized. In the past its been said that International Monetary Fund (IMF) provided similar loans to small countries in Africa and Asia and in case if the country is not able to repay the fund, the IMF gets the right to take natural resources of the country so as to nullify the debt. Some economists have argued that the IMF even though was aware that the p...