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Angela Merkel: Germany will become Islamic State!
Posted by EU Times on Sep 21st, 2010
There has been a great influx of Israeli Jews welcomed to Germany at the invitation of the Merkel Government. Does that make Germany a Jewish State! Please Read the Article below
http://www.jweekly.com/article/full/8761/influx-of-soviet-jews-prompting-disputes-in-germany/
Chancellor Angela Merkel said that Germans have failed to grasp how Muslim immigration has transformed their country and will have to come to terms with more mosques than churches throughout the countryside, according to the Frankfurter Allgemeine Zeitung daily.
“Our country continues to change, and integration is also the task for society to deal with immigrants,” Ms. Merkel told the daily newspaper. “For years we’ve been deceiving ourselves about this. Mosques, for example, are going to be a more prominent part of our cities than they were before.”
Germany, with a population of 4-5million Muslims, has been divided in recent weeks by a debate over remarks by the Bundesbank’s Thilo Sarrazin, who argued Turkish and Arab immigrants were failing to integrate and were swamping Germany with a higher birth rate.
The Chancellor’s remarks represent the first official acknowledgment that Germany, like other European countries, is destined to become a stronghold of Islam.
In France 30% of children age 20 years and below are Muslims. The ratio in Paris and Marseilles has soared to 45%. In southern France there are more Mosques than churches.
The situation within the United Kingdom is not much different. In last 30 years, the Muslim population there has climbed from 82,000 to 2.5 millions. Presently, there are over 1000 mosques throughout Great Britain – – many of which were converted from churches.
In Belgium, 50% newborns are Muslims and reportedly its Islamic population hovers around 25%. A similar statistic holds true for The Netherlands.
It’s the same story in Russia where one in five inhabitants are Muslim.
Posted by EU Times on Sep 21st, 2010
Chancellor Angela Merkel said that Germans have failed to grasp how Muslim immigration has transformed their country and will have to come to terms with more mosques than churches throughout the countryside, according to the Frankfurter Allgemeine Zeitung daily.
“Our country continues to change, and integration is also the task for society to deal with immigrants,” Ms. Merkel told the daily newspaper. “For years we’ve been deceiving ourselves about this. Mosques, for example, are going to be a more prominent part of our cities than they were before.”
Germany, with a population of 4-5million Muslims, has been divided in recent weeks by a debate over remarks by the Bundesbank’s Thilo Sarrazin, who argued Turkish and Arab immigrants were failing to integrate and were swamping Germany with a higher birth rate.
The Chancellor’s remarks represent the first official acknowledgment that Germany, like other European countries, is destined to become a stronghold of Islam.
In France 30% of children age 20 years and below are Muslims. The ratio in Paris and Marseilles has soared to 45%. In southern France there are more Mosques than churches.
The situation within the United Kingdom is not much different. In last 30 years, the Muslim population there has climbed from 82,000 to 2.5 millions. Presently, there are over 1000 mosques throughout Great Britain – – many of which were converted from churches.
In Belgium, 50% newborns are Muslims and reportedly its Islamic population hovers around 25%. A similar statistic holds true for The Netherlands.
It’s the same story in Russia where one in five inhabitants are Muslim.
by DANIEL DAGAN, Jewish Telegraphic Agency
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BERLIN — The influx of Jewish immigrants from the former Soviet Union into Germany is causing some fierce power and legal struggles — some of which are landing in German courts.
In some cases, the disputes have revolved around the Jewishness of the newcomers, but the main conflicts seem to center around the effects that absorbing the newcomers is having on the decision-making process in established German Jewish communities and in the election of Jewish officials.
The population of Germany’s Jewish community has more than doubled — to over 60,000 — in recent years as a result of a large wave of Russian immigrants.
German Jews, like most of European Jewry, are members of official local communities that are legally registered.
In the city of Hanover, for example, local Jewish activists accused Michael Fuerst, the longtime chairman of the community in the state of Lower Saxony, of relying on votes from non-Jewish newcomers to secure his position. The activists even questioned Fuerst’s Jewish origins.
In the end, a court decided several months ago to support Fuerst’s position and to re-establish him both as a community member and as the leader in the state.
In another more recent case, a group of newcomers from the former Soviet Union was excluded from the Potsdam community. The group, which calls itself the Association of Immigrants in the State of Brandenburg, challenged the exclusion and maintained that it was the only legitimate representative of the Jewish community there.
The established community’s chairman, Alexander Kogan, said the newcomers were excluded because they were not permanent residents of Brandenburg .
The immigrant group’s activists told the state government, local banks and other institutions that they were the only legitimate representatives of the community.
But a German court ruled earlier this month that the group of newcomers could not portray themselves as such.
The court’s decision has not ended the conflict. A lawyer representing the group has said he would explore the possibility of an appeal.
Another option for the immigrants, experts say, would be to register as a separate Jewish community in Brandenburg.
Non-Jewish residents of Potsdam can hardly understand why German courts have to deal with the burden of resolving the ongoing power struggle within the local Jewish community. “This is a very unfortunate situation,” a town official said, adding, “We would prefer not to be involved in this matter.”
For more JTA stories, go to: http://www.jta.org
Posted by kisakhani in NAWAZ SHARIF US & SAUDI AGENT, NAWAZ SHARIF US CIA ASSET IN PAKISTAN on August 30th, 2013
Posted by Hassaan Charolia in DECADENCE OF ARABIAN PENINSULA on August 30th, 2013
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Removing the curtains of Arab harems IX
BY OPAW, ON SEPTEMBER 1ST, 2011
Taking the advantage of tremendous sexual luster of Kuwaiti males, some Filipina women have already established extremely discreet private brothels within various residential and non residential areas in Kuwait city. The matter is no secret, as it has been reported even in Kuwaiti media on a number of occasions. A Filipina national told media that Asian women are being lured and forced into prostitution in Kuwait. She accused the pimps of operating under the loop of an organized crime syndicate. The Filipina, who survived the ordeal, claimed that brothel owners prey on domestic helpers. Most of such brothels are located at Salmiya and Fahaheel areas. A Filipina woman, elderly woman who, is in her early fifties, operated a brothel located in Salmiya’s old souk. The woman was working for a company in The Avenues. Runaway domestic helpers who sought shelter in her house were sold to clients for 25-50 Kuwaiti dinars per night. These women were dressed inappropriately, forced to dance at private parties and engage in sexual acts. A Filipina pimp in Fahaheel, who claimed to take in her custody runaway domestic helpers said, “It is their choice if they want to engage in prostitution or not. I don’t force anyone to it. They came to me asking for help and shelter and I can’t feed them all and provide for their needs. So I merely suggest prostitution as an option should they want to earn and raise money to pay for their needs and work on their release from their employers. However, it is ultimately their decision to give me something from their income.” In recent years, the Indonesian maids in Kuwaiti brothels have become the highest in numbers which is followed by Filipina, Sri Lankan, Bangladeshi, Nepalese, Indian and Tunisian women migrant workers. Most importantly, rights of housemaids, who are recruiting from many countries to Kuwaiti households, are not protected by local laws. This gives, ‘excellent’ opportunity to the employers in abusing the women in the worst-ever manner. Salah Uddin Shoaib Choudhury Mary Doreen, a Western nurse, who lived in Saud Arabia for many years, wrote a book on her experiences while working at King Faisal Specialized Hospital and Research Center. Describing the minds of Saudi men, she wrote: “Some Saudis believe that they must have sex five times a day, either before or after prayer. When a woman is menstruating, she is considered ‘unclean’, and it is forbidden for a man to have sexual relations with her. If all his wives are menstruating at the same time, [which frequently happens when several women live together], it is a man’s duty to seek sexual gratification outside of the home. A proud Saudi man wouldn’t defile a Saudi woman, and if a slave or servant or foreign national prostitute is unavailable, he thinks nothing of traveling to Egypt, UAE or Thailand. Sexually transmitted disease is rampant within the country.” Doreen also wrote quoting Sheikh Saleh Al-Fawzan, a revered religious clergy in Saudi Arabia, who said “is part of jihad and jihad will remain as long as there is Islam.” So, does it mean, the members of the Saudi royal family as well as Saudi aristocrats are having slaves, although the Saudi rulers always continue to vehemently deny the existence of any slaves [in 1962, King Faisal abolished slavery in Saudi Arabia by royal decree] in that country. But in reality, women and girls from Third World countries are purchased to serve in aristocratic households throughout the Kingdom of Saudi Arabia. They come from the Sudan, Tunisia, Thailand, Ethiopia, India, Pakistan, Bangladesh and the Philippines. Most of the poor parents or legal guardians of the females sell their girls and women to members of Saudi royals or even Saudi aristocrats, thinking, their children will live in luxury and comfort. A Saudi rich man, who purchases a female slave, believes that he has performed a charitable act by rescuing a family from abject poverty while delivering his slave into a fate worse that death. He brings the young girls into his harem, dump them in the basements. The slave is provided food and little bit of comfort, in exchange, she is regularly raped by her master and other male members of the family, as well tortured and persecuted by mostly female members of the family. This type of cases of slavery is not rare in Arab world, and of course Saudi Arabia is no exception. But on the other hand, such cases mostly get buried into bunch of wrong, false or bullying information packed into various websites. One such site has given series of descriptions on wrong sexuality of the Saudi royals, which will surely be proved as false propaganda of extremely naïve hands.Here is another site which also fails to give any credible information on sexual abuse inside Saudi Palaces and harems of the Saudi sheikhs. For the sake of credibility and accuracy of information, such websites should always be ignored as source of information, for knowing about sexual abuse of women inside Arab harems. It should also be mentioned here that, some of the information in these sites may be even wrongly described or half-truth. The Philippines government, responding to dozens of tragic cases of maltreatment, has warned young women going to work as maids in Saudi Arabia that they will be sexually harassed by Saudi men and slapped and tortured by their Saudi mistresses. The labor ministry says “You have to ward off advances by your master, his brother, son and other male members of the household.” In 1982, a Miami judge issued a warrant to search Prince Turki Bin Abdul Aziz’s 24th-floor penthouse to determine if he was holding an Egyptian woman, Nadia Lutefi Mustafa, as sex slave, against her will. Prince Turki and his French bodyguards prevented a search from taking place, and then won retroactive diplomatic immunity to forestall any legal unpleasantness. Wealth and Privileges of Saudi Princes: In late 1960s King Faisal issued a decree that every inch land of the country that was not officially registered to a private individual belonged to the Saudi royal family. Thus the entire country is treated as private property of the Royal family. The King distributed much of the land to royal family members. Princes sold some of the land back to the state and some to the public, but most they kept for themselves. Inside major cities or out in the remote desert, the country’s vast landmass remains private property of the Princes now numbering over 5000. They also treat entire Saudi oil revenues as their private wealth. Every Prince or princess is entitled to a monthly salary starting the date of his/her birth. Minimum monthly salary for the prince is US$ 150K while princess is US$ 50K, which starts on the moment of their birth and continues up to their 11th birthday. Then the salary amount is re-adjusted with higher amount. And, the money accrued, up to their 11th birthday is either invested in business in Saudi Arabia or in some of the Western countries. This way, each of the Saudi princes, before reaching their 16th birthday, already turn into a multi-millionaire. The closer the relation to Late King Abdul Aziz, the higher is the salary. Like, immediate descendants of late King Abdul Aziz receive a 7 digit [millions] salary each month. The Princes are paid separate Salary for each of their official position. Like Prince Sultan bin Abdul Aziz, reportedly holds over 60 separate positions in addition to chairing dozens committees, entitling him to separate salary for every position. Governors are entitled to a special additional payment of Saudi Riyal 1 billion annually to be used at their discretion. In addition, every Prince is entitled to a Luxurious Private Palace or money to build the Palace of his choice, as well as cash from birth to buy expensive cars and other luxuries. Literally every thing is supplied to the Prince free from the State, like electricity, water, medical, security, education, etc. All State developmental contracts are essentially awarded to the companies owned by the Princes. Similarly, their business establishments and other incomes are free from State control and taxes. Anything coming into Saudi Arabia under the name of a Prince via air or sea is not checked by any Government Agency. And what is the current size of Saudi royal family? According to information, up to April 1995, Prince Saud married into more than 30 tribes with 42 sons and 125 daughters. It was claimed that, the prince had married at least 1,400 women. The size of the royal family now should be somewhere above 50,000 members. Almost all the male members of the Saudi royals are polygamists. It will be totally difficult to identify even a couple of princes in the Saudi royal family, who has just one wife and 5-6 children. In most nominal cases, it will be 10-15 wives with at least 3-35 kids. Daily Reckoning reports: “Not many people know that over 90 percent of Saudi oil comes from six oilfields discovered before 1970′s. Experts argue that these oilfields are now well past their prime. Ghawar oil field is the super giant and has provided 55-60 percent of Saudi oil over the past five decades! According to experts, Ghawar is past its peak already and likely to enter into a major decline. Matthew Simmons, Chairman of Simmons and Company International, an investment bank specializing in oil industry says that “Saudi fields are aging much faster. The Saudis need to strip water out of nearly every well and this is a sign that Saudi fields are aging much faster than the industry has planned for.” Jasmine Revolution and Revelations: The spreading fire of ‘Jasmine Revolution’ in the Arab world is not only succeeding in collapsing one-after-another authoritarian regimes, but, with the fall of those autocrats, the world is getting information about the hidden sexualities inside the harems. And it is visible that, rulers in the Arab world are already sweating due to the spread of Jasmine Revolution in nations. For example, Iranian theocrats claim that the popular uprising against their allies in Syria is masterminded by Israel and West. Saudis and Bahrain’s despots claim that the popular uprising in Bahrain is masterminded by Iranian mullahs. King of Saudi Arabia announced early last February that those behind the Egyptian uprising were “foreign infiltrators” and agents. Libya’s Qaddafi even claimed that the rebels were on drugs and affiliated with al-Qaeda. Egypt’s old security agents declared [and some in the military apparently agreed] that the young protesters were high on drugs and free sex. Saudi palace Salafi clerics declared that it is against God and Islam to protest against the regime. |
Posted by Azahir in EXPATRIATE FLIM FLAM ARTISTS, Expatriate who scam Pakistan & Pakistanis on August 30th, 2013
You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.
MILLION DOLLAR QUESTION
This is the Oath of US Citizenship, Musadak Malik took, When he became a US Citizen. Has he renounced his US Citizenship? This is the Oath he took when he became a US Citizen. Does he Owe Allegiance to US or Pakistan?
This is the oath Musadak Malik took, when he became a US Citizen: Naturalization Oath of Allegiance to the United States of America
Oath
“I hereby declare, on oath, that I absolutely and entirely renounce and abjure all allegiance and fidelity to any foreign prince, potentate, state or sovereignty, of whom or which I have heretofore been a subject or citizen; that I will support and defend the Constitution and laws of the United States of America against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I will bear arms on behalf of the United States when required by the law; that I will perform noncombatant service in the armed forces of the United States when required by the law; that I will perform work of national importance under civilian direction when required by the law; and that I take this obligation freely without any mental reservation or purpose of evasion; so help me God.”
The principles embodied in the Oath are codified in Section 337(a) in the Immigration and Nationality Act (INA), which provides that all applicants shall take an Oath that incorporates the substance of the following:
The language of the current Oath is found in the Code of Federal Regulations Section 337.1 and is closely based upon the statutory elements in Section 337(a) of the INA.
As citizenship fraud is a form of immigration fraud, there are several federal agencies that would investigate a citizenship fraud allegation. These agencies include the Federal Bureau of Investigation (FBI), the U.S. Citizenship and Immigration Services (USCIS), the U.S. Customs and Border Protection (CBP), and the U.S. Department of Homeland Security. The official homepages of some of these agencies are provided in the References section.
Read more: http://www.ehow.com/how_5646412_report-citizenship-fraud.html#ixzz2dPcHeSil
Nawaz Sharif is not a very bright fellow. However, he is a “Black-Belt,” in using people to his advantage. He depends on the advice of a few people (his Kitchen cabinet e.g.Sartaj Aziz, Ahsan Iqbal, Ishaq Dar, Pervez Rashid, and Khwaja Asif), who are much smarter than him and could run circles around him (without him knowing it). However, once in a while, a smooth talking shyster gets past him. A classic example of such a person is Musadak Malik, the so-called Advisor on Power of all recent Prime Ministers. He is a US Citizen, who has not given up his citizenship. This Pharmacist turned dyed in wool power advisor and “Engineer”did a number on Nawaz Sharif and ended-up as an mover or shaker in the power sector. This incidence shows the absolute incompetence of Nawaz Sharif to tell the difference between an expert and a karela(bitter melon) or for that matter a gongloo(turnip).
Here is the real story of Musadak Malik sent to us from USA by a Mr.Ali, Key Member of The Pakistan think Tank Organization. Please Read and Weep, as we did.. .Editor PTT
Dated:2013-4-24
Government of Pakistan
Ministry of Water and Power
PRESS RELEASE
Islamabad, 24th April
Federal Minister for Water and Power Dr. Musadik Malik has said that the government would fully cooperate with IPPs to run the power plants on maximum capacity and resolve their problems on priority basis.
He made these remarks while presiding over the meeting with the heads of the independent power producers established under 2002 policy here today to review the power generation and allied matters. The meeting was attended by Secretary Additional Secretary and Joint Secretary of the Ministry, MD NTDCL, MD PPIB and other senior officials of the Ministry, NTDCL, WPPO and PPIB.
The Minister appreciated the role of IPPs in the power sector and said that the government is planning to generate maximum electricity from efficient plants instead of inefficient plants by ensuring supply of oil and gas to them. He said that energy crises is a national crisis and we have to resolve it by cooperating each other. He said all we know that the power crisis is affecting all walks of life. Our industry is facing difficulties due to severe power outages, exports are coming down and threats of unemployment. Mr. Malik said that the Ministry has requested the government for release of Rs 150 billion for payment to power companies in order to ease the crisis. The Ministry of Petroleum has also been asked for supply of additional 150 mmcfd gas to power plants. He said that we are optimistic that the load shedding issue can be resolved by taking right steps.
He sought cooperation from the IPPs and proposed that if agreed by IPPs, the government would provide oil to the more efficient private power plants for 60 days in return of full capacity generation of their plants. This would help to increase the generation by 500 mw. The supply of 150 mmcfd gas would also help to increase power generation by 550 mw. Both the steps would reduce the gap between demand and supply and reduction in load shedding. The government is also taking steps to improve the efficiency of the Gencos, he added.
Earlier, the IPPs representative one by one briefed the meeting on their problems and their out standing dues. They also gave suggestions to improve the power generation and assured to cooperate with the government to reduce the energy crisis. They also asked the Ministry for early payment of their out standing dues. They also thanked the Minister for convening the meeting to resolve the energy crisis as well IPPs problems. ENDS.
Fatmi, Mussadaq, Shujaat Azeem under scrutiny
Three out of four Advisors and Special Assistant to Prime Minister Nawaz Sharif—Capt (Retd) Shujaat Azeem, Tariq Fatmi and Mussadaq Malik– are under judicial or public scrutiny for various charges.
Advisor on Aviation, Shujaat Azeem was probed about dual nationality during a judicial inquiry at the Supreme Court. Shujaat Azeem was already under scrutiny for a conflict of interest case. As Aviation head, he supervises the construction of Islamabad Airport whereas his own company is one of the beneficiaries.
Shujaat Azeem, who was also close to Pervaiz Musharraf, is being rewarded by Nawaz Sharif for his role in getting the Prime Ministry out of Pakistan by brokering a deal with the Saudis. His brother, Tariq Azeem, has also been adjusted in the PML (N). Shujaat was already giving the impression as if he was given the charge to remote control PIA also. But he has been charged of having a Canadian nationality. If true, this might put his job at stake.
Tariq Fatmi has been charged of still working for the oil and gas giant Unicol. He is accused of doing two job as the PM’s Advisor on Foreign Affairs as well as at Unicol. According to media reports he is on leave from Unicol and has not resigned. Also, this may cause a conflict of interest. Unicol is notorious for trying to promote Turkemanistan-Afghanistan pipeline, and in the process flirting with Taliban in its heydays. This also brings his influence on policies, particularly the Iran gas pipeline in conflict. How could we trust somebody for an independent policy when he was on the payroll of a dubious firm. The issue is bound to come up for discussion in the Parliament soon, where, by the way, he has got his wife nominated as MNA on women quota.
You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.
Musadik Malik, a Pharmacist from Boston, has fooled mediocre and incompetent power elites of Pakistan and ended-up holding a key position in Pakistan’s Ministry of Water & Power.
There are many Pakistanis who are jobless in America. They are very hard working and extremely talented people but have fallen on hard economic times.
But, there are a few exceptions among them. These include those who hail from well-connected families of Pakistan, the so-called Waderas, Zamindars, Industrialist, Bureaucrat, and Jagirdars,
Johnnies like Musadik Malik surviving in US, always have a Plan B.
Plan B is the fall back position for unemployed progeny of Pakistan elites in US. They use their connections with the high and mighty in in Pakistan to land on their feet not in US but in Pakistan
A classic case is that of Masadik Malik.
He was unemployed in US for a long time, because he had a Ph.D degree in Pharmacy tooo high a qualification to work in a neighbourhood drug store. At that time there was a glut of B.Pharms in the US job market. Therefore doctorates were considered over-qualified.
Musadik Malik tried every possible approach to keep his head above water but still could not find a job in Boston, Massachusetts or for that matter anywhere else in US
He followed through with Plan B and using his connections in UAE he landed on his feet. And founded a nebulous company by the name of DNA. This was a paper company, where, he wanted to pad his resume.
Musadik Malik Gift for Gab or as they say in American slang, a tendency to Bullshit
Any forum, where Musadik Malik can talk he finagles his way into it.
He is full of form, but has no substance
Musadik Malik utilizes his gift for gab to climb the career, as well as the social ladder., or as they say in US, he is a “Bullshit,” Artist. He right away found an advisory position in the “gang that could’nt shoot straight, cabinet of the Mir Hazar Khan Bijarani. But, since there is no Ministry for Pharmacist, Musadik thought it convenient to try for the Ministry of Power.
So, Musadik Malik, a US Citizen did not renounce his US citizenship and ended-up according to his self-promotion Website:http://dnahealthcorp.com/pages/musadik_malik
Appointed Federal Minister, Water and Power of the Pakistan Government in April 2013, Musadik Malik is also CEO and Managing Director of the Boston Innovation Group based in Bahrain. – See more at: http://dnahealthcorp.com/pages/musadik_malik#sthash.dNp8uzpd.dpuf
Musadik Malik’s greatest asset is the Art of Bullshit. He uses his gift of gab to advance not only his career, but also, his social status
In Pakistan, he developed his own neural network of connections among the power elites. he hit the jackpot with the senile PM Mir Hazar Khan Bijarani with whom he latched on using his charm and gift of gab.
When the Pakistan Government was being transferred from Mir Hazar Khan Bijarani to Nawaz Sharif, Musadik Malik had to give a presentation on the achievements and plans of his portfolio. Well, that became his direct entry into the
inner circle of power in Pakistan. Nawaz Sharif, who has a knack for choosing hacks (because as they say, “it takes one to know one,)”became a fan of Musadik Malik’s “Bullshit.” The rest is history, and folks that is how
Pakistan got a pharmacist to solve its humungous load -shedding problems.
This also demonstrates the calibre of leaders Pakistan has produced, as Prime Ministers. Likes of Gilani were followed by Bijarani, who in turn is followed by the three timer himself, none other than the Coward of Kargil, Nawaz Sharif a.k.a. Bhagora.
Incompetent Nawaz Sharif, could not find a single electrical engineer, among the thousands in Pakistan to run the Federal Ministry of Water and Power. He had to import, a “has been” pharmacistfrom the United States (who still hold his US Citizenship) to the most critical ministry in Pakistan.
Of course, Nawaz Sharif cared the least if this man had even a remote expertise in this crucial ministry. It is possible, since, Load shedding was the biggest head ache facing Nawaz Sharif, he decided to bring a pharmacist to run the Ministry of Water & Power. One can conjecture that Nawaz Sharif needed a pharmacist to relieve his biggest head ache:The Pakistan Power Crisis.
Nothing changes in Pakistan, where square pegs have filled round holes almost all the time for the last 65 years.
So why NOT, have a Pharmacist running the Water & Power Ministry.
That shows Nawaz Sharif’s acuity in recognizing talent and giving it position and power, where it can show its maximum incompetence.
But, 180 million Pakistanis don’t care. They are too hungry and suffering from economic deprivations. They are still in a honey moon phase with a Prime Minister, whose IQ in problem solving runs into negative numbers.
Posted by Fawad Mir in INDIA-HO-- -- USE BUILT ON SAND AND COW DUNG on August 29th, 2013
India’s economy is in its tightest spot since 1991. Now, as then, the answer is to be bold
). That scared foreign investors, who worry that India may freeze their funds too. The risk now is of a credit crunch and a self-fulfilling panic that pushes the rupee down much further, fuelling inflation. Policymakers recognise that the country is in its tightest spot since the balance-of-payments crisis of 1991.
During the 2003-08 boom, when reforms would have been relatively easy to introduce, the government failed to liberalise markets for labour, energy and land. Infrastructure was not improved enough. Graft and red tape got worse.
Private companies have slashed investment. Growth has slowed to 4-5%, half the rate during the boom. Inflation, at 10%, is worse than in any other big economy. Tycoons who used to cheer India’s rise as a superpower now warn of civil unrest.
There are glimmers of hope: exports picked up in July, narrowing the trade gap. But India faces a difficult year, with jittery global markets and an election to boot. Even if it scrapes past the election without a full-blown financial crisis, the next government must do much, much more to change India.
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