Remarkably, nobody seems to have laid out exactly how a Greek-style crisis is supposed to happen in a country like Britain, the United States, or Japan (that borrow in their own currency) – and I don’t believe that there is any plausible mechanism for such a crisis.” It is heartening therefore that there has been considerable global interest in recent times in Rupee denominated Indian sovereign and more important, corporate debt.
*  *  *  The Honourable Vice-President of Mauritius, Honourable Ministers, Respected Governor Rundheersing Bheenick, Mr. Googoolye, Dr. Khadaroo, Directors of the Board of the Bank of Mauritius and distinguished friends. It is a great honour and privilege to be invited to deliver a Memorial Lecture on the occasion of the 40th Anniversary Celebrations of the Bank of Mauritius.