January 14, 2011
School of Business, Coimbatore
 

Bringing the year to a successful close, on December 7, 2010, Dr. P. Venkat Rangan, Vice Chancellor of Amrita Vishwa Vidyapeetham and Prof. Paolo Collini, Director, School of International Studies, University of Trento, signed a Memorandum of Understanding (MoU) between the Amrita School of Business and the University of Trento, Italy.
 

The memorandum marks the beginning of a two-year collaborative partnership designed to foster academic excellence. The cooperative venture will include programs for student exchange, internships and possibly a dual degree offering.
 

The University of Trento, long known for its strategic international alliances, was founded in 1962. It is highly ranked among the top public universities in Italy and internationally.
 

During Prof. Collini’s visit at Amrita, he interacted with the students and faculty members of the Amrita School of Business, elaborating on the history of economics in Europe.
 

Beginning the discussion by tracing the chain of events that led to the official induction of the Euro in 2002, Collini explained why the European Union created a common currency. He also described the risks a country faces when it adopts a unified currency.
 

“Monetary and fiscal policies need to be tailored because countries lose the authority to tweak interest rates and inflation,” he emphasized.
 

Commenting on the current financial crises in Greece and Ireland, he stated, “Due to their failing economies, and chronic financial mismanagement, these countries may experience hyperinflation.”
 

He cited the example of hyperinflation in Argentina where tremendous fluctuation was seen in the price of goods, that could change up to four times within a single day.
 

Prof. Collini concluded his talk noting, “The European Union was one country when it came to international debt. It will take time for the Euro to gain popularity in the international market.”
 

The lecture was well received by enthusiastic students eager to learn more about the European economy.
 

In addition to directing the School of International Studies, Prof. Collini is also the Dean of the Faculty of Economics at the University of Trento, which includes faculties in Law, Sociology, Humanities, Philosophy, Engineering and Science besides Economics.
 

Over the years, the University has created alliances with Italian and other world-renowned centers of higher learning. Its newest alliance with Amrita unites the backwaters of Kerala, India with the heart of the historic center of Trento, Italy.
 

As for Amrita, this MoU signifies yet another step in its continued ascent towards academic excellence by expanding and strengthening ties with the international academic community.