RBI’s Sharma urges euro area rebalance


Reserve Bank of India executive director, VK Sharma, believes the euro area must banish its crisis by achieving harmony between its core and periphery countries.

Speaking at an International Leadership Symposium in Brussels on November 30, Sharma said the balance of ‘unearned' prosperity in deficit countries on the euro area periphery and ‘unshared' prosperity in the surplus countries at its core was "inherently unsustainable" in the long-term.

Rather, he said, sustainable globalisation is about

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