VZCZCXRO3307
PP RUEHBI RUEHCI RUEHNEH
DE RUEHNE #3224/01 3581016
ZNR UUUUU ZZH
P 231016Z DEC 08
FM AMEMBASSY NEW DELHI
TO RUEHC/SECSTATE WASHDC PRIORITY 4840
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UNCLAS SECTION 01 OF 02 NEW DELHI 003224 
 
SIPDIS 
 
STATE FOR NP, AC, PM 
 
STATE FOR INR/MR 
 
STATE FOR SCA/INS, PM/CBM, PM/PRO 
 
STATE FOR SCA/PPD, PA/RRU 
 
STATE FOR AID/APRE-A 
 
USDOC FOR 4530/IEP/ANESA/OSA FOR BILL MURPHY 
 
E.O. 12958:N/A 
TAGS: KMDR KPAO PGOV PREL IN
SUBJECT: MEDIA REACTION: INDIA-PAKISTAN RELATIONS, GLOBAL 
ECONOMY: FINANCIAL MARKET CRISIS; NEW DELHI. 
 
This cable reports on relevant media reaction from 
India's large non-English press. Embassy New Delhi 
reports on English-language media via email in the daily 
"Early Edition."  USG customers please write to Geeta 
Krishali (KrishaliG@state.gov) to subscribe to the "Early 
Edition." 
 
----------------------- 
INDO-PAKISTAN RELATIONS 
----------------------- 
 
¶1. "BEATING OF WAR DRUMS"  editorial in the December 23, 
2008, multi-edition right-of-center Gujarati daily 
GUJARAT SAMACHAR.  "It seems that war beats have gathered 
momentum.  A feeling rather than a sense of belief is 
running deep in the nerves of the people of India that 
Pakistan needs to be taught a lesson for its complicity 
in the acts of terrorism against India...  What we also 
need to remember is that at times there is a need to 
adopt a tough stand against terrorism like the U.S. 
President Bush might have been reviled for his 'war 
monger' image but one thing is certain: that his policy 
of 'war against terror' has insulated America from acTs 
of terrorism post 9/11.  Bush might have faced protest in 
the form of shoes hurled at him, but as a competent 
leader he has succeeded in efsuring the safety of his 
fellow Americans....  The leaders of India need a modern 
'Chanakya' [the great Indian thinker on statecraft] who 
can teach them that at times war also becomes necessary 
when the question is of the security and welfare of the 
citizenry." 
 
¶2. "MUCH TO PAKISTAN'S BENEFIT, INDIA HAS WOKEN UP PRETTY 
LATE" editorial in the December 23, 2008, Mumbai edition 
of left-of-center Marathi daily MAHARASHTRA TIMES. 
"India's defense minister AK Antony recently observed 
that India is keeping open the option of a military 
strike against Pakistan, especially in the context of the 
duplicitous role played by Pakistan in the Mumbai terror 
attacks. But about a fortnight ago, Antony had sought to 
allay widespread fears of a war with Pakistan. It is 
apparent that India is not at all decided about its 
political and military policy towards Pakistan. The likes 
of Pakistani President Asif Ali Zardari have noticed this 
indecisiveness. Little wonder that Zardari merely makes a 
show of a crackdown on anti-India militants. While 
Zardari continues with his diplomacy, the ISI and the 
Pakistani military continue with their anti-India 
stance...  India's political stance is not making the 
necessary impact on Pakistan. That's precisely because 
Pakistan knows that India is waiting for things to 
happen. It hopes and wishes that Pakistan will be reined 
in by the U.S. but the solution does not lie with the 
U.S. The solution lies in a quick  audit of the possible 
scenarios against Pakistan, and, of course, quicker 
action..." 
 
--------------------------------------- 
GLOBAL ECONOMY: FINANCIAL MARKET CRISIS 
--------------------------------------- 
 
 
NEW DELHI 00003224  002 OF 002 
 
 
¶3. "WHAT NEXT?" edktorial in December 23 nationalist 
Kolkata Bengali ANANDABAZAR PATRIKA.  "...Economic theories 
say that investments increase when rates of interest 
decline... All countries, therefore, go this way when there 
is economic recession... But the theories that appear to be 
'without flaws' on pages of economics books may not be 
that effective in reality.  The zero-interest rate policy 
is one of these theories.  In the present U.S. economic 
market, the extent of distrust is too strong.  As a 
result, there is no guarantee that banks will offer loans 
even if interest rates are accessible.  Practically, that 
is the possibility...  On the other hand, once the zero- 
interest rate is announced as the last weapon it sends a 
strong signal to the market that there is nothing more to 
be done.  Investors, subsequently, may have a negative 
feeling that might decrease the possibility of success. 
The economic crisis accentuates this...  The question 
remains whether the Federal Reserve Chairman has changed 
his stance in the last decade, or whether the pressure 
from the current economic crisis has forced him to tread 
this path." 
MULFORD