Prime Minister Vladimir Putin interviewed by Bloomberg news agency
On Wednesday, the world's most prestigious economic forum started in Davos.
This is the first time Russia will open the forum; Prime Minister Putin will present a report on the reasons for the economic crisis and the ways of overcoming it. On the eve of his departure to Davos, he was interviewed by Bloomberg news agency.
On the main points of his speech in Davos
"Everybody is now speaking of the need to join efforts in order to overcome the current difficulties experienced by the world economy and world finance. The European zone and the European Union countries, for example, have developed certain rules and are trying to comply with them - the budget deficit, for instance. You are probably aware of the agreements and limits that they have. In the rest of the world, however, there are no such agreements, although they would have had a very stabilizing effect. In the process of globalisation, interdependence is so great that all countries would be interested in such agreements and, to a certain extent, are entitled to them.
Here is what I mean. The Russian Federation has invested almost 50% of its gold and currency reserves in the US economy, and we are not indifferent to the size of the US budget deficit in 2009. This is just an example; there are other parameters as well. We do understand that universal agreements, similar to the ones existing in the EU, are hardly possible. We do, however, believe that some basic framework agreements can be reached."
On the global currency
"There are many discussions about economic multi-polarity and the possibility of establishing other reserve currencies in addition to the US dollar and the euro. In Russia, we believe that you cannot simply declare a reserve currency or even a regional currency. More important is how developed and diversified the economy is. We, however, could discuss certain regional funds that could become a prototype for a single economic policy in certain regions.
Today, for example, I've heard again about discussions on potentially creating a single Latin American currency. Experts believe that the yuan could potentially become a regional reserve currency in Asia. Arab nations have also been considering the possibility of introducing a single regional currency. I would like to repeat that this is a lengthy process. It may well happen, but it will take a long time, possibly 15, 20, or 25 years.
On life after the crisis
"We set the task of diversifying our economy not long ago. Overall, I believe we are on the right track and have already accomplished some results, considering that we are in the beginning of the process. In this context, the financial and economic crisis is to a certain degree even helping us. Why? The crisis is forcing us to act more rationally and compelling us to use new technologies (practicing energy conservation, for example). It is forcing us to make manufacturing more efficient, to better train staff, and retrain out specialists. As a result, we hope to emerge from the crisis more mature and better-equipped for development."
On relations with the US
"We are interested in a partnership-like honest dialogue, based on the principles of international law and with due respect of the US and Russia's interests. I am not in a position to give advice to the newly elected President of the United States. He knows better what he can and should do.
"Still, we are quite optimistic based on what we heard during the last several weeks and, possibly, even months. We have heard certain signals regarding the missile defence system and noticed that President Obama's team has indicated that they did not want to rush things and that the matter should be subject to further analysis. We welcome such statements and, furthermore, our offer is still on the table to develop such systems jointly.
"We have also heard positive signals regarding NATO expansion and have noticed that the new President's team has been speaking about ensuring Ukraine's and Georgia's security by means other than NATO membership. We support these ideas and are ready to engage in any discussion on finding the best way of ensuring international security."
On gas issues with Ukraine
"Europeans have to a large extent been hostages to the situation that emerged after World War II, and they still are. What happened in Ukraine in recent years was largely a result of the former US administration's activity, which was supported by the EU.
At the end of last year we finally reached an agreement on signing gas contracts with Ukraine. You will probably be surprised to know that we were going to sign the contracts on Ukrainian terms. We did accept their conditions at the end of the year, and when we did so, they refused to sign the agreements solely based on their domestic considerations. Consequently, both Europe and Russia became hostages to Ukraine's domestic politics. The current attempts by the Ukrainian President to have the agreements revoked are the best confirmation of what I have just said."
Was the latest agreement worth the efforts and the downsides? In my opinion, it was, because sooner or later we had to switch to normal, civilised, and market-based relations."
On oligarchs
"For some reason there is an opinion that I am against billionaires. This is not true. I have never had the intention of eliminating billionaires. My objective has always been to ensure that everyone abides by the laws. In any normal country, these laws are legally adopted by the parliament and all citizens are obliged to follow them.
"If a person legally acquires a large amount of property or financial resources - God bless him. At the moment we are visiting the Akron Company with you. Not only have the owners been maintaining jobs under these difficult conditions, as almost no one has been laid off, but they have also been developing the social sphere. They pay a decent salary on a regional scale and on a country-wide scale as well - more than 21,000 roubles. If businessmen run successful businesses and are socially responsible, they will have our full support."
On personal matters
Bloomberg:
What are you currently reading?
Putin:
History of the Russian State, by Nikolai Karamzin.
Bloomberg:
Which historical leader do you respect most?
Putin:
Peter the Great and Catherine II. I believe they did the most for the development of the Russian state.
Bloomberg:
What was the last movie you saw?
Putin:
"Oliver Twist"
Bloomberg:
What is the funniest and most amusing part of your work?
Putin:
Not a lot of amusement, as I don't really work at the circus. More seriously, though, your question has caught me off guard. There are not many funny things in my work. The funniest is probably your question.
Bloomberg:
What is the best advice that you have ever received?
Putin:
Probably my mother's advice - never ask for anything and never complain about anything.
Bloomberg:
What's your biggest flaw?
Putin:
Credulity.
Bloomberg:
What is your favourite type of entertainment, your favourite temptation in life?
Putin:
I would say ice-cream, if we stick to gastronomy. I have loved ice-cream since childhood and have always consumed a lot of it.
Bloomberg:
What's your motto in life?
Putin:
Full-speed ahead.
Bloomberg:
Could you describe your best day?
Putin:
All of them are good, as I have an interesting job. I truly enjoy it. It is very important and responsible and a lot depends on the results of my work. If I succeed, and I see that people's lives are improving, it is my greatest reward.
Bloomberg:
Which talent do you wish you had?
Putin:
Musical.
Bloomberg:
Can you describe yourself in retirement?
Putin:
It is very difficult to think about retirement now, but I would probably be doing research in the field of state law.
Bloomberg:
How would you like to be remembered in history?
Putin:
History will tell.
By Igor Leonidov