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Global economy enters great depression – Medvedev

December 26, 2011, 17:28 UTC+3
In that connection he recalled the political reform and the transition of powers from the center to the regions
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MOSCOW, December 26 (Itar-Tass) —— Russian President Dmitry Medvedev has pointed to the beginning of what he described as a great depression.

“According to international experts, the global economy has entered into a great depression,” Medvedev said. “This is not just a comparison, but an economic fact. Therefore, all of our decisions must be correlated with the situation in the global economy.”

“True, we negotiated the crisis of 2008-2009 pretty well, but there are no less significant tests in store for us ahead. We must say this to our citizens openly and honestly, in a simple but good Russian language. They should be aware – there are difficulties ahead,” Medvedev warned.

In that connection he recalled the political reform and the transition of powers from the center to the regions.

“In the current situation, when economic life is no simple, and when the political life is brimming with activity a number of political approaches must be changed.

 

 

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