Cardinal Parolin: Dialogue of Roman Catholic and Orthodox Churches to help them feel unitySociety & Culture August 20, 8:27
Polina Dibrova, mother of three, wins Mrs. Russia 2017 beauty pageantSociety & Culture August 20, 4:41
Russian emergencies ministry plane returns from firefighting mission in ArmeniaWorld August 20, 4:39
East Ukraine conflict claimed nearly 3,000 civilian lives — ICRCWorld August 20, 1:56
Renowned Russian filmmaker Andrei Konchalovsky turns 80Society & Culture August 20, 0:48
One of seven injured in Surgut stabbing spree in critical condition — authoritiesSociety & Culture August 19, 23:51
Netanyahu expects to meet with Putin in Sochi on August 23 — Israeli premier’s officeRussian Politics & Diplomacy August 19, 22:47
Surgut attacker is identified as a local resident - investigationSociety & Culture August 19, 14:09
Combat module containing neural networks may become series in Russia in 2018 — designerMilitary & Defense August 19, 10:44
ST. PETERSBURG, June 21 (Itar-Tass) — Vikram Pandit, the chief executive director of Citigroup INC, believes that political steps are necessary to improve the situation in global economy.
The future of the world economy will depend on how well the euro area is going to cope with its problems, primarily the outstanding debts of a number of sovereign states. The American-born banker who attended a roundtable meeting ‘Investment Banking in the 21st Century: New Models for New Ear’ at the International Economic Forum in St. Petersburg said that the current state of uncertainty was unprecedented for contemporary world.
Apart from the euro area crisis and the U.S. growing foreign debt, the world markets are being influenced by the complex situation in the Middle East which Pandit believes could lead to a hike in energy prices.
Viktram Pandit also added that a change of political leaderships expected to take place in 32 countries next year could alter the situation in its core.
Mr. Pandit urged the world governments to take fast actions before it’s too late. Then, even the right steps will be unable to stop market changes, the expert said.