Atlantic Council

REGISTER

Get Email Updates

Atlantic Update
Printer-friendly version
Subscribe via RSS

Putin Assesses Financial Crisis

Peter Cassata | December 05, 2008

In his annual telephone question and answer session with the Russian public, Putin sought to ease worries about the effects of the financial crisis on Russia.  The Independent:

"I have to say directly that this will be a difficult period for the world economy, and ours too," he said.  "We must be organized and morally prepared, in both a financial and political way."  The problems facing Russia today do not compare to previous crises, he said, alluding to the chaotic 1990s.  "Today, the country is in a totally different state, we have every chance of getting through this complicated period with minimal losses to the economy and our citizens."

If a 70 percent decline in Russian stocks since May is a "minimal loss," then yes, the effects of the financial crisis will be minimal.

Atlantic Update Navigation

Blog Roll

Global Leadership Circle