ID :
22375
Fri, 10/03/2008 - 09:16
Auther :
Shortlink :
http://m.oananews.org//node/22375
The shortlink copeid
Putin blames U.S. for global financial crisis
Vinay Shukla
Moscow, Oct 2 (PTI) Battling to insulate former Communist nation's nascent economy from the global financial meltdown, Russian Prime Minister Vladimir Putin has blamed the U.S. for showing
"irresponsibility" while managing the crisis.
"We see an inability to take appropriate decisions.
This isn't the irresponsibility of particular individuals, it
is the irresponsibility of a system that as we know had claims
to leadership," Putin said in his televised remarks at the
cabinet meeting Wednesday.
Putin, who as the country's chief financial and
economic executive, has taken several steps to ease the credit
crunch by releasing 1.5 trillion roubles (25 roubles = 1 USD)
and earmarking another 500 million roubles to buy securities
to prop bourses, said that Russia could no longer remain
unaffected by the 'infection' originating from the U.S.
"Everything that is happening in economics and finance
started in the U.S.," Putin said.
He, however, underscored that Russia could not abandon
its national development plans due to crisis.
"The U.S. not only can't assume leadership, it can't
even take appropriate and absolutely essential measures for
overcoming the crisis," Putin said referring to the failure of
House of Representative to adopt bailout package offered by
Bush Administration.
Putin pledged extra USD 50 billion to a previously
announced USD 100 billion of funds for the banking industry on
September 29 and said the Central Bank will provide loans
without collateral to banks, widening access to funding.
The liquidity package may boost inflation by as much
as two percentage points, according to Alexei Ulyukayev, First
Deputy Central Bank Chairman.
Price stability is the government's "long-term" goal,
while financial stability is the priority in the short term,
Ulyukayev said.
Russian consumer prices grew an annual 15 percent in
August. Inflation may exceed 12 percent by the end of the
year, Finance Minister Alexei Kudrin said.
He also said that the time for further strengthening
of rouble is over for now as the speculative capital has left
Russia. PTI VS
Moscow, Oct 2 (PTI) Battling to insulate former Communist nation's nascent economy from the global financial meltdown, Russian Prime Minister Vladimir Putin has blamed the U.S. for showing
"irresponsibility" while managing the crisis.
"We see an inability to take appropriate decisions.
This isn't the irresponsibility of particular individuals, it
is the irresponsibility of a system that as we know had claims
to leadership," Putin said in his televised remarks at the
cabinet meeting Wednesday.
Putin, who as the country's chief financial and
economic executive, has taken several steps to ease the credit
crunch by releasing 1.5 trillion roubles (25 roubles = 1 USD)
and earmarking another 500 million roubles to buy securities
to prop bourses, said that Russia could no longer remain
unaffected by the 'infection' originating from the U.S.
"Everything that is happening in economics and finance
started in the U.S.," Putin said.
He, however, underscored that Russia could not abandon
its national development plans due to crisis.
"The U.S. not only can't assume leadership, it can't
even take appropriate and absolutely essential measures for
overcoming the crisis," Putin said referring to the failure of
House of Representative to adopt bailout package offered by
Bush Administration.
Putin pledged extra USD 50 billion to a previously
announced USD 100 billion of funds for the banking industry on
September 29 and said the Central Bank will provide loans
without collateral to banks, widening access to funding.
The liquidity package may boost inflation by as much
as two percentage points, according to Alexei Ulyukayev, First
Deputy Central Bank Chairman.
Price stability is the government's "long-term" goal,
while financial stability is the priority in the short term,
Ulyukayev said.
Russian consumer prices grew an annual 15 percent in
August. Inflation may exceed 12 percent by the end of the
year, Finance Minister Alexei Kudrin said.
He also said that the time for further strengthening
of rouble is over for now as the speculative capital has left
Russia. PTI VS
