RBI’s Subbarao says eurozone situation better than expected


The governor of the Reserve Bank of India, Duvvuri Subbarao, on January 24 said that after conversations with Indian banks, who reported the latest information from corporates, the "reality in Europe is slightly better than our worst fears".

The governor added that the situation is "contained", not at risk of "blowing up" like it had been in December. Nevertheless, Subbarao said the continuing eurozone crisis was "disturbing" and significant improvement was required.

Subbarao made the comments

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