VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
“Our country, you and I, have managed to prevent a repeat of the shocks of 1998. This, too, can certainly be called your achievement, to a considerable extent. This attests to the fact that the plan of anti-crisis measures drafted and advanced by the government had proved effective.”
“According to our overview of the past four years, we can state with confidence that Russia has not only recovered from the crisis but has also made a significant step forward. We have become stronger.”
“It goes without saying that the crisis was a trial for us, and a difficult one. We lost time and pace in implementing some reforms, but we have kept up the forward momentum. Yes, the decline was tangible. We know and remember this, but we recovered much faster than many other countries. Today we have the highest economic growth rates in the G8 and one of the highest among the world’s major economies.”
“All global economic processes are interconnected. Risks that are present in some markets inevitably have an impact on the overall situation. This is why well-coordinated collective efforts of all countries are needed to steer out of the crisis, and the roles of the Russian and German business communities are very important here. <…>This country is ready to join (and has already joined) the efforts to overcome the effects of the crisis, including in the Eurozone. We are prepared to render practical aid, primarily through the IMF mechanisms.”
“It is very important to scrutinise what happened in the world economy – to study the circumstances in which the crisis unfolded, find a cure, and draft measures to preventing such adverse developments in the future. We must make our national economies reliable and productive, and protect them against all kinds of negative factors, risks, and potential pitfalls.”
“We are overcoming the aftermath of the global economic crisis and steadily increasing trade. It grew by more than a quarter last year to $1.4 billion, and Russia has firmly established itself among Serbia’s leading trade partners.”
“The global economic crisis that we all have encountered has clearly shown how dependent we are on each other. It has also shown that the irresponsible or selfish actions of one country or even one large bank may cause problems for the entire global financial system, as well as for themselves. Therefore, it is especially important that governments, financial authorities, and central banks of all countries synchronise their policies. … We are committed to coordinating our own steps with what's going on out there, with the decisions worked out by the G8 and G20 groups.”
“There are problems, but I do not want to get into their causes now. European leaders have spoken about this at length, convincingly, and I think correctly. [Financial] discipline must be strengthened and the budget deficit must be closely monitored. Overall, there is much to be done, such as changing the currency laws, which should be the same, or at least as close as possible, in all EU countries. On the whole, the foundations of the European economy are sufficiently strong. There are clear leaders in terms of economic stability, such as Germany and France. And nobody wants to destroy the European Union. I think that Ms. Merkel was correct when she said that there would be no EU without the euro, even if the organisation would still be called the European Union.”
“Today, I would like to draw your attention to the fact that we were forced to reallocate resources in an effort to overcome the consequences of the global financial and economic crisis. A proportion of those resources that could have been put towards modernisation, was instead spent on anti-crisis objectives. Today, we are working amid considerably changed, to put it bluntly, tougher external and domestic conditions. The events of the last few weeks have shown that it is still too early, too premature to say that the global crisis has ended completely. Today Eurozone states are being forced to implement unprecedented measures in order to stabilise their financial systems, while the people have to pay for their previous macroeconomic miscalculations. In effect, a simple truth has been confirmed: in the long-term perspective only a responsible macroeconomic policy can facilitate steadily rising and improving standards of living among the population. I am deeply convinced that we must ensure macroeconomic stability”.
Today we will also discuss the draft of the federal targeted programme on nuclear energy technology. Our primary objective is to use our competitive advantages in this high tech economic sector and to consolidate Russia's position on the international market. We have done much in the past, but now we must exploit our experience.
"The crisis, despite its negative elements, offers a unique opportunity to reform the economy, rehabilitate the global financial system, and formulate a modern agenda that should adequately reflect the growing role of the new centres of economic growth and political influence. Being here in Tokyo, I am referring above all to the Asia-Pacific region."
“To overcome the negative consequences of the global financial and economic crisis, we should take effective joint actions to rehabilitate the global financial and investment system. Likewise, we must maintain and, if possible, enhance the level of trade and economic relations and cooperation in other spheres of bilateral relations. To attain this objective, we should act with maximum trust based on a positive approach to the partners' interests. I am convinced that if we follow these guidelines, Russia and Hungary will make a befitting contribution to European economic stability.”
“In conditions of the crisis, we should pay more attention to social problems and to preventing unfavourable developments in this field.”
"On the whole, we are convinced that a fall in social standards, a kind of "social dumping" should not be used as an anti-crisis measure because it will not only fail to improve the situation but will also complicate steady economic recovery."
“We have said more than once that our goal is to turn the rouble into reserve currency. Please believe me, this is an understandable and reachable goal. We are already using roubles for settlements in trade with some countries.”
“We must strengthen the system of global regulators based on international law and a system of multilateral agreements in order to prevent chaos and unpredictability in such a multi-polar world. Consequently, it is very important that we reassess the role of leading international organisations and institutions.”
“Excessive dependence on a single reserve currency is dangerous for the global economy. I think it is clear to everyone now. Consequently, it would be sensible to encourage the objective process of creating several strong reserve currencies in the future. It is high time we launched a detailed discussion of methods to facilitate a smooth and irreversible switchover to the new model.”
“Most nations of the world convert their international reserves into foreign currencies and must therefore be convinced that they are reliable. Those issuing reserve and accounting currencies are objectively interested in their use by other states. This highlights mutual interests and interdependence.”
“Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors and shareholders for their decisions, has been eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”
“In our opinion, we must first atone for the past and lay our cards on the table, so to speak. This means we must assess the real situation and write off all hopeless debts and "bad" assets. True, this will be an extremely painful and unpleasant process. Many will be unwilling to accept such measures, fearing for their capitalisation, bonuses, or reputation. However, we will "conserve" and prolong the crisis if we do not clean up our balance sheets. I believe financial authorities must work out the required mechanism for writing off debts, one that corresponds to today's economic needs.”
