• India , Japan and South Korea have joined to avert Euro crisis damage spreading to Asia . The initiative by Japanese Prime Minister Yoshihiko Noda has been shared by the three major Asian economies with the delegates at the World Economic Forum meeting at Davos in Switzerland . 
  • The united efforts followed by IMF chief Christine Lagarde warning that euro crisis could spill over to other regions. Noda told the Forum through a video-link from Tokyo that his country is already working with South Korea and India to reduce the risk of the crisis spreading to Asia .
  • In another session on Saturday, Managing Director of the International Monetary Fund said no one is immune in the current situation. It is a crisis that could have collateral effect.
  • Singapore Prime Minister Lee Hsien-Loong also had a word of caution, stating the escalation of European debt crisis would cause serious problems for the entire world.
  • Lee, however said there is a lot of momentum in the Chinese and Indian economies.