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Moscow:Russia to the rescue

Wednesday, November 16, 2011

Laaska News  Nov. 16,2011                Read :Russia in changing world

Vladimir Putin. Photo: RIA Novosti   

Being fiscally sound, Russia is prepared to supply the IMF with extra funds for providing rescue to Europe.

Prime Minister Putin spoke about this to financiers and industrialists from Germany at a meeting in Moscow Wednesday. He pointed out that in a globilized world these days no economy is immune to trouble on the world markets.



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Russia in changing world

Chernitsa Polina

Photo: AFP   

Russia is ready to help bail out the Eurozone via the International Monetary Fund, not through the European Financial Stability Facility. A statement to this effect was made by presidential aide Arkady Dvorkovich, who urged countries to secure a multilateral dialogue.

According to Arkady Dvorkovich, the possibility of contributing to the EFSF is not on the agenda because the mechanism of the new structure is uncertain.

“In the absence of clear-cut mechanisms, we have no way of knowing where the promised one trillion euros will come from. €250bln is there, along with the general idea, but whether they will be able to raise the additional €750bln is unclear. Russia would prefer to work via the IMF.”

The International Monetary Fund might require about $300bln to tackle the crisis. Russia’s contribution will commensurate to its share in the fund, which will stay unchanged for now, the presidential aide said.

The BRICS countries vowed readiness to help Europe during the recent G20 summit in Cannes.

Aside from G20 and BRICS, Russia is taking part in other global and regional groups and alliances. This is dictated by the times, Arkady Dvorkovich said.

“Russia gives 100% in each of the formats. This multi-level political and economic structure yields a lot of benefit. If we fail to strike accord within one group, we move on to another and thereby, make progress. Dialogue is important on both bilateral and multilateral levels.”

President of the New Eurasia Foundation Andrei Kortunov believes that multi-level approach towards foreign policy is the only efficient one at the moment.

“Since the division line between Europe and Asia has become blurred in present-day world, diversification of foreign policy acquires particular importance amid the political and economic risks of the day.”

Nov 10, 2011 .



Laaska News.