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Russia not to link aid for Euro zone to energy issues – Putin

November 07, 2011, 18:46 UTC+3
Russia will not link aid for the Euro zone within the framework of the International Monetary Fund (IMF) to energy issues, Prime Minister Vladimir Putin said
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ST. PETERSBURG, November 7 (Itar-Tass) —— Russia will not link aid for the Euro zone within the framework of the International Monetary Fund (IMF) to energy issues, Prime Minister Vladimir Putin said.

“We will not link this to energy,” Putin said at a press conference after a meeting of the Council of the Heads of Government of the Shanghai Cooperation Organisation (SCO) on Monday, November 7.

He said Russia hoped to strengthen its position in the IMF if it joins the programme of assistance to the Euro zone.

At the just-concluded G20 summit in Cannes, President Dmitry Medvedev said that as an IMF member Russia could take part in the joint financial assistance to the Euro zone.

“We do not want the Euro zone to have problems. But we will certainly not link this either to energy or anything else. But we hope within the framework of this international organisations that if such countries as Russia and China will participate in global efforts to improve the situation, this will reflect on our status in the IMF,” Putin said.

He believes that the European Central Bank could help solve the tasks facing the European Financial Stability Facility.

“My personal opinion is that the European Bank’s participation in the resolution of tasks facing the European Financial Stability Facility could not hurt in the current situation,” Putin said.

He wished partners success “because we are all interested in the success of our European partners in the resolution of the problems facing Euro zone countries”.

“This would mean pumping [money] to some extent of course, but it would be justified,” the prime minister said. However his colleagues in Europe think differently.

Speaking of the Russian economy, Putin stressed that Russia, just like China, has no such problems as in Europe. “In Russia the state debt is 10 percent of GDP, of which 3 percent are foreign loans. This testifies to the healthy condition of our financial system,” he said.

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