Islamic State attack on Iraq's Kirkuk rebuffedWorld October 21, 15:48
Romano Prodi says Nord Stream 2 gas pipeline is not in Italy’s interestBusiness & Economy October 21, 15:38
Russian women's futsal team 'didn't have to wear hijabs, but chose to' — coachSport October 21, 15:35
Moscow says Belgian defense minister tries to distract attention from Hassadjek attackRussian Politics & Diplomacy October 21, 15:04
Russian suspected of alleged cyberattacks on US to remain in custody — Czech ministryWorld October 21, 14:55
Justice Ministry rejects Ukraine’s extradition bid for filmmaker convicted in terror plotRussian Politics & Diplomacy October 21, 14:52
Kremlin says EU sanctions policy against Russia destructiveRussian Politics & Diplomacy October 21, 14:48
NATO to use AWACS aircraft for Syrian airspace surveillance soonWorld October 21, 14:40
Switzerland seeks to bolster ties with Russia — senior lawmakerRussian Politics & Diplomacy October 21, 14:26
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.”