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Why is their recovery better than ours? (Even though neither is good enough)

India’s NRI Deposit Accounts. Nonresident Indians (NRIs) have the option of holding their savings in foreign currency or in rupee- denominated accounts in India. As of March 2010, NRIs held an estimated $14.3 million in foreign-currency-denominated accounts and $33.6 million in rupee-denominated accounts. 399 The Foreign Currency (Non-Resident) Account (Banks) scheme can be denominated in British pounds, US dollars, Japanese yen, euros, Canadian dollars, and Australian dollars. The accounts are available for fixed terms of not less than one year and not more than five years. The accounts can also be used to obtain loans in India and abroad, both in domestic. | IS BANK OF ENGLAND Speech Why is their recovery better than ours Even though neither is good enough Speech given by Adam Posen External Member of the Monetary Policy Committee Bank of England and Senior Fellow Peterson Institute for International Economics At the National Institute of Economic and Social Research London 27 March 2012 I am grateful to Tomas Hellebrandt and Marilyne Tolle for their research assistance and many helpful suggestions in the preparation of this speech. I alone am responsible for the views expressed and any errors herein and these views should not be attributed to the Bank the MPC or to PIIE. All speeches are available online at www.bankofengland.co.uk publications speeches So here I am my affections torn between a UK postal service that never feeds me but can tackle a challenge and one US that gives me free tape and prompt service but won t help me out when I can t remember a street name. The lesson to draw from this of course is that when you move from one country to another you have to accept that there are some things that are better and some things that are worse and there is nothing you can do about it.Now if you will excuse me I have to drive to Vermont and collect some mail from a Mr. Bubba. Bill Bryson I m a Stranger Here Myself Notes on Returning to America After 20 Years Away Why is Their Recovery Better than Ours Even though neither is good enough Adam S. Posen Comparing economic policy and performance across countries is a rewarding pursuit intellectually and sometimes in the form of policy relevant insights. Tonight I would like to directly compare policy and performance in the United Kingdom and the United States since the current less-than-satisfying recovery began in both countries in mid-2009. Perhaps obviously this comparison is of great personal concern to me given my residence and work here in London while retaining ongoing ties personally and professionally in Washington and throughout the US. But it is worth .