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Standard & Poor’s (S&P) downgraded the government debt of 9 countries out of the 17 countries of the euro zone.

The ratings of France, Austria, Italy, Spain, Cyprus, Portugal, Malta, Slovakia and Slovenia were downgraded.

This move seems to have increased the difficulty of finding a solution to the debt crisis.

Germany, the largest economy of them has been spared.

The list is given below.

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With a view to attract more foreign funds and strengthen the Indian capital market, the government has announced a new scheme under which foreigners will be able to invest directly in the Indian equity market.

Expected to be operationalised from January 15, the new scheme allows a foreign individual, a foreign pension fund or even a foreign trust to invest directly in the equity market. These investors will be called ‘Qualified Foreign Investors’ (QFIs).

Citing that foreign investors are already allowed direct access to Indian mutual fund schemes, the Finance Ministry said that its latest decision is merely ‘the next logical step’ in the same direction.

“This has been done in order to widen the class of investors, attract more foreign funds, reduce market volatility and deepen the Indian capital market,” said the Finance Ministry in a statement.

Currently, foreign individuals and foreign institutional investors (FIIs) can invest in the equity market only through sub-accounts with registered FIIs whereas unregistered foreign individuals and institutions invest through participatory notes (PNs).

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