Opinion Banking on BRICS
This refers to Laying new BRICS in Durban (IE,March 25). The creation of a BRICS bank,a foreign exchange currency reserve pool
Banking on BRICS
* This refers to Laying new BRICS in Durban (IE,March 25). The creation of a BRICS bank,a foreign exchange currency reserve pool and an African development bank is well-thought out. Besides,lending in local currency and freedom from dollar domination is the need of the hour. It seems that BRICS countries are all set to dominate the world economy. Along with African states,Southeast Asia can be included. A currency reserve pool will be helpful in times of emergency. But we also know that China will always try to dominate such a structure. China is ready to replace the dollar with the renminbi as the global reserve. India will have to play its part well,keeping China in mind.
Abhijeet Jha
New Delhi
Mumbai wishlist
* Every Mumbaikar wishes the government took immediate steps to ensure the safety and security of ordinary citizens,especially women who face grave threats to their lives from rape and other assaults (The enduring idea of Mumbai,IE,March 25). Mumbai residents also feel there ought to be an increase in the frequency of local trains,along with good roads free of potholes and traffic jams,so that they dont have to travel in sub-human conditions. Not to forget,they hope for some respite from ever-rising inflation. But the way things have been moving (or not) for the past several years,its clear this wishlist will probably remain wishful thinking.
Ketan R. Meher
Thane
Indispensable two
* Apropos the editorial Not again,Netaji (IE,March 26),both national parties,the Congress and BJP,have not yet reached a situation where their combined tally in Lok Sabha will fall below the majority mark. No government can therefore be formed without the involvement or outside support of either party. The United Front government fell when the Congress withdrew support. Mid-term general elections were forced on the country in 1998 and 1999,hugely burdening the exchequer. Coalition governments of the NDA,led by A.B. Vajpayee,and of UPA 1,led by Manmohan Singh,did survive their full terms. One of the two major alliances is expected to win the next general election. But having seen the deficit in policymaking and governance due to coalition compulsions,it would be better if voters go for a clear majority to a single party.
M.C. Joshi
Sweet revenge
* With regard to the Indian teams victory over Australia,some critics might say this Australian side was the weakest ever to tour India so victory is not that sweet. But we shouldnt forget that,barring Michael Hussey and Ricky Ponting,this was the same Australian team that whitewashed us on their home turf. So its indeed sweet revenge taken by Dhoni and company.
Bal Govind
Noida
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