Russia: Confident in euro

08:12, November 29, 2010      

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Russia's Prime Minister, Vladimir Putin, says he has confidence in the euro, despite Europe's growing debt crisis. He has also criticized the US dollar's dominance as a world reserve currency.

Vladimir Putin, Russia's Prime Minister, said, "As you know, there are currently problems in Portugal, Greece and Ireland and the Euro is a bit unsteady, but the euro is a stable world currency. And certainly it must play its own role. I think, what went wrong in the last decade and what needs to be done: we have to get away from the overwhelming dollar monopoly. It makes the world economy vulnerable and unbalanced."

Putin says he is confident the euro will outlast the challenges brought on by the sovereign debt crisis, and praises the policy of the European Central Bank and the Eurozone member states to preserve the currency. Putin also says Russia may possibly join a European currency zone.

In addition, he says that Russia may be able to join the World Trade Organization as soon as next year, completing more than a decade and a half of membership negotiations.



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