The week that was: Deal or no deal, mkt in for taxing times

Sagar Salvi
moneycontrol.com

The euro and shares fell on Friday, reflecting concern over a possible failure in the debt restructuring after the European Union and International Monetary Fund indicated that a hard-won Greek deal on spending cuts and wage cuts did not go far enough. Back home, it was raining bad economic data this week. India's trade deficit has soared to USD 148.7 billion during the first 10 months (April-January) of the current financial year putting further pressure on the rupee. The figures clearly indicate that 2012 would be a difficult year for exports in view of growing uncertainty in the eurozone, slackening demand in other advance economies and third country effect on our exports to emerging economies.
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