Many studies indicate that in comparison with the United States, real wages are relatively inflexible in Europe. More specifically, I mean that the downward responsiveness of real wages to the level of unemployment is more limited in Europe than in the US. There are, however, notable differences across countries in the euro area.
The deposits of the banking system stand at about rupees 4.8 trillion whereas loans and advances extended by banks as of December, 2009 were rupees 3.2 trillion. The amount of nonperforming loans at present is rupees 432 billion. The banks have filed 56320 recovery and execution cases in courts involving rupees 215 billion.