Friday, March 22, 2013

Cypriot economy (of Cyprus) and Media Crooks
Any effect on the G-20 economies due to any crisis in Cyprus is simply Hocus Pocus!!
The size of the Cypriot economy is only 70-billion-euro (GDP). And it is said that Banks are 7 to 8 times  to that economy (These are just hearsay). So, I feel there will hardly be any effect (or if we use politically correct phrase, then we can say, "not much effect") on the economies of G-20 countries due to Cyprus crisis. Those who are saying or preaching such nonsense, have vested interests, nothing more than that.

Let us now find out how much it is in Indian Rupee, considering 1 Euro equals to 70.31 Indian Rupee.

Hence, 70 billion Euro = Rs.70 x100x 70.31 Cr = Rs.492,170 Cr. 

Now compare it with India, taking cues from Wikipedia:

The economy of the Republic of India is the tenth-largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS.

India's GDP $ 4.710 trillion (PPP).... where 1$= Rs.54.44. 

Now one trillion means 12 zeros. 

$ 4.710 trillion = Rs.54.44 x  4.710 x 10 to the power 12 = Rs.256.41 x 10 to the power 12 = Rs.25, 64, 10, 00, 00, 00, 000 =Rs. Rs.256, 41, 000 Cr. Or nearly 52 times that of Cyprus.


Therefore, I do not find any logic as to why Indian or US or Japanese or Chinese or even German or French markets should fall because of Cyprus.......!!

All these talks of such a small economy affecting the Euro Zone, is simply a figment of imagination and are due to MEDIA CROOKS, who are creating unnecessary sensation on the issue so that they can grab the eyeballs. Such issues needs to be thrown in dust bins.