Greek tragedy is a form of theatre from Ancient Greece and Asia Minor. It reached its most significant form in Athens in the 5th century BC. Greek tragedy is an extension of the ancient rites carried out in honour of Dionysus, and it heavily influenced the theatre of Ancient Rome and the Renaissance. Tragic plots were most often based upon myths from the oral traditions of archaic epics. In tragic theatre, however, these narratives were presented by actors. The most important authors of Greek tragedies are Aeschylus, Sophocles and Euripides.
Bank runs and bank closures evoke fear in most investors. It is, therefore, completely understandable that investors are panicking over the events in Greece. But this is something other than banking. It is all about the mismanagement of IMF to sustain Dollar hegemony.
India has to be afraid as we are linked to Dollar Hegemony and the Ruling class caste hegemony of absolute fascism has not left any way whatsoever for a great escape.
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I spent my younger days to understand Greek Tragedy as a student of literature. Now, we have to understand Greek tragedy all over again and it happens to be the economic crisis shaking all the dices of the Global Free Market economy which would hit us more than RBI Governor speaks out.
It is more serious an affair as it had been in 2008. Not resilience of the Indian economy, as it was claimed then, we were saved that the basic structure of the economy were intact even then and we had not been linked to market as we happen to be now.
Long way we have traded since then to dismantle the production system and the economic structure all on the name of growth and development. Thus, we face a danger ahead, a repeat of the infamous Bengal famine as everything has been handed to the market with merciless ethnic cleansing which is all about the economic management by the agents and super agents of foreign capital and foreign interests under business friendly development, making Gujarat in.
According to India Ratings and Research (Ind-Ra), Indian corporates might face higher borrowing cost in the overseas market in short-run due to the Greek debt crisis.
It is official, although Indian companies have limited direct exposure to Greece, they may feel some pain in the short-term since a slew of them have been tapping international markets for cheaper funding relative to home country, it added.
Indian firms raised foreign capital of $13.4 billion in 2014-15 and cost of such borrowing may now go up. Ind-Ra expects increased global market volatility to weigh on the rupee in the near-term.
However, record-high forex reserves at $355 billion will provide a cushion against sharp volatility. "India's direct exposure to Greece through external trade is minuscule.
Palash Biswas

Hastakshep