India offers $10 billion to fight eurozone crisis

India pledged $10 billion to the International Monetary Fund (IMF) to help Eurozone countries out of the current crisis and prevent adverse fallout on emerging economies.

“The International Monetary Fund has a critical, supportive role to play in stabilizing the Eurozone. All members must help the fund to play this role,” the Prime Minister told the G20 Summit  at LOS CABOS (Mexico) on Monday. “I am happy to announce India has decided to contribute $10 billion to IMF’s additional firewall of $430 billion,” he said, also appealing to countries with surpluses, such as China, to make similar contributions.

Mehdi Hassan passed away in Karachi

India-born Ghazal legend Mehdi Hassan, the melodious voice behind many evergreen hits died on June 13 following multiple organ failure at the age of 84.

Hassan, who had millions of fans in India and Pakistan, had been admitted to the Agha Khan Hospital in the southern port city of Karachi some days ago. He had been in a serious condition and was on ventilator.

Finally Greece got new PM

Greece ended its protracted political impasse on Wednesday, swearing in Antonis Samaras as new prime minister to lead a largely pro-bailout coalition tasked with saving the country’s place in the eurozone and easing a European financial crisis with global repercussions.

Antonis Samaras, became the fourth prime minister in eight months.