London: Observing that Congress president Sonia Gandhi has shown wisdom in declining to be Prime Minister, a leading British daily today (May 19, 2004) said the nomination of Manmohan Singh for the post would reassure India's financial markets.

"Sonia Gandhi was always a reluctant politician. But her decision not to accept the job of Prime Minister - another extraordinary twist in the colourful kaleidoscope of Indian politics - is not a failure of nerve or fear of the awesome responsibility; it is a well-calculated assessment of the political forces lined up against her and an intelligent reading of the present mood within her Congress Party," 'The Times' said.

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On a day when almost all leading dailies gave front-page display to the story and photographs of Gandhi being mobbed by her party leaders trying to change her mind, it said in an editorial, "Although the mass of the party faithfuls have rallied behind her, impressed by her courage and determined not to give in to nationalist prejudice against her foreign origin, the sprawling party contains powerful barons who are completely un-reconciled to her leadership and have already tried to dislodge her."

"Manmohan Singh's nomination as Prime Minister would certainly reassure India's financial markets; he is seen as a pragmatist, not a Left-wing ideologue, and knows that he must build on, not reverse, his original reforms which led to the present spectacular growth rates," the daily said.