The approach to managing the external sector, the choice of instruments and the timing and sequencing of policies are matters of informed judgment, given the imponderables. Conclusion Over the years, India’s commercial and financial linkages with the rest of the world have been increasing with trade liberalisation and openness on the capital account.
BIS Review 93/2001  3  The euro area is not an island and global developments do affect the euro area economy of course. Hence, one of the requirements of a globalised world is a frequent exchange of information and views among policy-makers.