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Moscow concerned over rising U.S., eurozone debts: Putin


16:08, February 03, 2012

MOSCOW, Feb. 2 (Xinhua) -- Russia was concerned about rising debts in the U.S. and eurozone, and the problems they created for other major economies, Russian Prime Minister Vladimir Putin said Thursday.

Addressing the Russia Forum 2012, Putin said eurozone countries' debt was equal to about 90 percent of their gross domestic product (GDP) on average and the U.S. debt had reached 15.3 trillion U.S. dollars, exceeding the country's GDP.

"We don't like these (debts) because these systemic risks create threats to the global economy and also to newly emerging economies, like China, which also depend on developed economies," Putin said.

The prime minister also warned of a new round of global recession in coming years.

"It is becoming ever more evident that the risks of another global recession are still there. To find the exit from the crisis and a new model of growth may take a while," Putin said.

He said there might be two scenarios in the future and the first one was pessimistic, "a further worsening of the current problems."

Such a scenario might trigger soaring debts, protectionism, trade wars and political instability in many developed countries, Putin said.

"The positive scenario is an end to economic and financial bubbles and a return to the ...economy that creates not derivatives but jobs," he said.


Leave your comment1 comments

  1. Name

romanov at 2012-02-0480.94.16.*
2012-2-3.Putin it a such the fox"s cunnig so-and-so.Many say but show China that not give not any money West,because have all right.China and Russia to have free-money to investment to be ocassion joint to break power WS,IMF and WTO.Tocreate new finances centre which change world economy.Money,chinese talent development and russian natural resources create new economy monstrum -power.Tlus free trade.

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