Putin: Russia is not going to attack anyoneRussian Politics & Diplomacy October 27, 18:20
Putin urges new Marshall Plan for Middle East to see recovery and growthRussian Politics & Diplomacy October 27, 17:30
Zakharova slams Latvia’s crusade against historical memory as harmful to kids’ educationRussian Politics & Diplomacy October 27, 17:22
Russian diplomat rejects Kiev reports on armed police mission in DonbassRussian Politics & Diplomacy October 27, 17:07
Lavrov: Russian leaders need no one’s permission to visit CrimeaRussian Politics & Diplomacy October 27, 17:03
Vladimir Putin at Valdai Club session in Sochi: live streamRussian Politics & Diplomacy October 27, 16:36
NATO battalion at Russian border to get German tanks — defense ministryMilitary & Defense October 27, 16:31
Foreign Ministry offers consular assistance to Russian detained in PhilippinesRussian Politics & Diplomacy October 27, 16:08
Russian, Chinese, and Saudi physicists sharpen vision of photodetectorsScience & Space October 27, 16:02
VLADIVOSTOK, September 9 (Itar-Tass) — Heads of states and governments of the Asia-Pacific region’s countries welcomed the obligation undertaken by European leaders to undertake all necessary measures to maintain the integrity and stability of the Euro zone, the APEC summit’s Declaration reads.
“Since we last met, the global economy has continued to face a number of challenges and is subject to downside risks. The financial markets remain fragile, while high public deficits and debts in some advanced economies are creating strong headwinds to economic recovery globally. The events in Europe are adversely affecting growth in the region. In such circumstances, we are resolved to work collectively to support growth and foster financial stability, and restore confidence. We are committed to strengthening domestic demand where appropriate, facilitating job creation, reducing high public deficits and debts, and implementing structural reforms to boost growth in our economies.
“We welcome the European Leaders’ commitment to take all necessary measures to safeguard the integrity and stability of the Euro area. We remain committed to reducing imbalances by strengthening deficit economies’ public finances with sound and sustainable policies that take into account evolving economic conditions and, in economies with large current account surpluses, by strengthening domestic demand and moving toward greater exchange rate flexibility. We reaffirm our commitment to move more rapidly toward market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying fundamentals, avoid persistent exchange rate misalignments, and refrain from competitive devaluation of currencies. While capital flows can be beneficial to recipient economies, we reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability.
“Fiscal sustainability remains an important element of sustained economic growth, but it was negatively impacted by recent financial crises. Under these circumstances, we remain committed to ensuring the long-term fiscal sustainability of our economies while recognizing the need to support their recoveries within the available fiscal space. Expenditures related to aging population should be taken into account in fiscal projections. Fiscal sustainability can be at risk from high private indebtedness and vulnerable banking sectors, which need to be closely monitored.”