Thought for the day
“The art of leadership... consists in consolidating the attention
of the people against a single adversary and taking care that nothing will
split up that attention.”
-
Adolf Hitler
(German, 1889-1945)
Word for the day
Ad
hominem (adj)
Appealing to one's prejudices, emotions, or special
interests rather than to one's intellect or reason.
Attacking an opponent's character rather than answering his
argument.
(Source: Dictionary.com)
Teaser for the day
In search for a strong leadership, should Congress consider
a reverse merger into Trinamool Congress (TMC) of Mamta Banerjee?
Whatever it takes
In summer of 2012 when economists and analysts were busy
preparing their obituaries for common currency European Union and peripheral
European countries were declared pariahs in the financial market, ECB chairman
Mario Draghi took the mantle on himself and declared that he would do “whatever
it takes to preserve Euro”. Skeptics did not believe him then.
Two years later, everybody acknowledges that Draghi’s Outright
Monetary Transaction (OMT) program has been an overwhelming success. It has
successful in not only preserving but strengthening Euro. All peripheral
European countries are welcome back in financial markets paying borrowing costs
which almost matches the good times. Most troubled countries like Portugal,
Ireland, Spain, and Iceland have successfully reigned the fiscal profligacy
that led them to the crisis in the first place. The much maligned Greece also
does not look too bad at this point in time.
All may still not be well but Europe at least looks a stable
place today. Most importantly, all this has been achieved without actually
using the OMT mechanism. Just Draghi’s firm and assuring words have done the
job.
I expect the new Prime Minister of India (hopefully Modi, but
anyone else would also do for me) to do the same. Assure the nation that his
government would do “whatever it takes” to put economy firmly back on a
sustainable growth path.
·
Businesses need to be assured that the
government would do “whatever it takes” to address all their valid concerns
promptly in a sympathetic manner.
·
Youth need to be assured that the government
would do “whatever it takes” to adequately equip them to attain a respectable
standard of life.
·
Farmers need to be assured that the government
would do “whatever it takes” to introduce necessary reforms (land, marketing,
pricing, rehabilitation, productivity, financing, irrigation and crop
technology) to improve their earnings on sustainable basis.
·
Women need to be assured that the government
would do “whatever it takes” ensure their safety, pride and equality.
·
Investors need to be assured that the government
would do “whatever it takes” to protect their interest by creating strongest
possible deterrence to fraud, malpractices, oppression, and mismanagement by
scrupulous promoters, fund managers, and borrowers.
·
Common citizens need to be assured that the
government would do “whatever it takes” to protect his right to a decent living
by containing inflation, providing primary civic amenities closer to his home
and defending his right to safe life, food, education, health, clean drinking
water, sanitation and shelter etc.
·
Bureaucrats need to be assured that the
government would do “whatever it takes” not only to protect them for all their
actions taken in good faith but to own all such decisions in case of a dispute
or allegation of impropriety.
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