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Putin calls for removing causes leading to the euro crisis in the first place

April 05, 2013, 21:35 UTC+3

Russia trusts the economic policy of European giants, especially Germany, Putin said

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NOVO-OGARYOVO, April 5 (Itar-Tass) - Russia trusts the economic policy of European giants, especially Germany, Russian President Vladimir Putin said in an interview with the German Radio and TV Company ARD on Friday.

“We trust the euro, we trust the economic policy of European giants, especially the economic policy of the German leadership,” he said.

“We know in detail about various opinions existing on this issue: economic development, sustainable economic growth and support for stable currency. I agree that it’s necessary to eradicate causes that lead to crises first and then start increasing the supply of money,” Putin went on to say.

“But, you know, I do not want to go into particulars now and start the polemics, which do not concern us directly. This is up to the leaders of European countries,” the Russian president emphasized.

“However, from what we hear and see and judging from the actions of our colleagues in the leading economies of the Euro zone and measures taken by the European Commission, I would like to repeat that we disagree and argue with them on many issues. However, we believe that they make right and correct decisions on fundamental issues,” Putin explained.

“This makes us confident that we are right that we keep a sufficient amount of our gold reserves in the European currency. I am sure that if the situation unfolds according to this scenario, our colleagues and friends in Europe will be able to overcome the hardships they are facing now,” Putin said.

Putin recalled that Russia’s gold reserves were estimated at 534 billion dollars. The government’s reserve fund is 89 billion dollars.



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