With the Eurozone economy forecast to shrink by 0.3 per cent in 2012.

With the Eurozone economy forecast to shrink by 0.3 per cent in 2012, and with the European Commission crystal gazing zero growth for the current year for all the 27 Member States and 1.3 per cent growth for the coming year, the picture is all dispirited for the European Union. On the other hand, India’s economy is projected to grow by 6-7 per cent, much below the norm of 9 per cent.