ibnlive » Business

Nov 04, 2011 at 08:47am IST

Events in Greece are very unfortunate: Montek

New Delhi: Deputy Plannign Commission chief Montek Singh Ahluwalia on Friday said that the events in Greece are very unfortunate and India should make it sure that contagion is minimised.

Talking to CNBC TV 18, he said, "The Eurozone in taking a number of initiatives to provide resources to put in fiscal discipline. I think that the G20 are aware of the fact that if markets are made sufficiently aware that these are issues that the govt is watching and the govt is ready to step in that you will not have contagion."

He further added, "In order to prevent contagion you need to identify the problem early and tackle it. That's what they are doing. I don't think that is a reflection of fear of contagion but just an elementary precaution that we should take."