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Present-day currency system needs support -- Medvedev

September 28, 2012, 19:10 UTC+3
According to the Russian prime minister, due to its geographical location, Moscow is destined to be an international financial centre
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Photo ITAR-TASS

Photo ITAR-TASS

YALTA, September 28 (Itar-Tass) —— The present-day currency system needs an extra bearing, Russian Prime Minister Dmitry Medvedev said on Friday.

“The current currency system is unstable,” he said at an investment forum in the Crimean resort city of Yalta. The global currency system, in his words, “requires addition support,” and Russia’s currency unit, the rouble “has all the chances to be such.”

“The world is now in a situation when neither of the reserve currencies may claim to be exclusive,” he said. He recalled that back in 2008 and in 2009 everybody was concerned over the U.S. dollar while now “we are apprehensively looking at Europe.” “We are concerned over the euro zone, making guesses whether Greece would be given some money or it would eventually split to trigger a chain reaction of collapse of the entire European Union,” Medvedev said.

According to the Russian prime minister, due to its geographical location, Moscow is destined to be an international financial centre. “The Moscow financial centre is now only forming, although we have spent much effort and funds for these ends,” he noted. “Due to geographic reasons, Russia’s undoubted role is to be a bridge between economies of various countries.”

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