Presented by

Mohammad Ali Saiyyed Rishibha Jain Mini Nigam

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Mini- Miss Greece Rishibha- Miss America Mohammad- Mr. IMF

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Greeces budget deficit is more than 12% as opposed to less than 3%, as required for membership in the EU Debt of Greece is nearly 330 billion dollars Close to 120% of its GDP The 2 biggest rating agencies downgraded Greece.

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Lack of effective monitoring of government deficits Entering in to European union Recession in case of Spain Lack of enforcement of the rules by European union

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To strengthened the system Take loan Temporarily go out from EU. Do cost cutting

The protests began when government announce for cost cutting

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IMF came into existence on December 27, 1945 when 29 countries signed the agreement IMF working for Global monetary cooperation Secure financial stability Sustainable economic growth Reduce poverty around the world. In Greece Total EU/IMF contribution is now 65bn This Monday there is a news that IMF give further package to Italy and it reflects in all share markets

Euro is the second largest currency in forex reserve. ` China exports 19.4% to Europe of its total export. ` Positive impact on Germany ` Negative impact on Spain and Portugal
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Market
Long term impact Short term impact

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Trade
India export only 0.05% to Greece Three of the top ten exporter comes from Euro zone for India

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Currency
Single currency for many countries

The group of twenty (G-20) finance ministers and central bank governors was established in 1999 to bring together systematically important industrialised and developing economies to discuss key issues in the global economy. The inaugural meeting of the G-20 took place in Berlin, on December 15-16, 1999, hosted by German and Canadian finance ministers.

G20 aims to foster the adoption of internationally recognised standards through the example set by its members in areas of such as the transparency of fiscal policy and combating money laundering and the financial terrorism. It aimed to develop a common view among members on issues related to further development of the global economic and financial system. To tackle the financial and economic crisis that spread across the globe, strengthen international cooperation.

The Group of 20 leaders have agreed to increase the financial power of the International Monetary Fund (IMF) French President Nicolas Sarkozy confirmed that most talks had revolved around the euro zone crisis. Italy is to commit to further cuts to its debts.

`THANK

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