Press // Поиск по тегу 'crisis'

President Dmitry Medvedev got a lukewarm response to his proposal for a new international reserve currency at a G20 summit Thursday, with world leaders focusing on the more immediate need to secure money to bail out the global economy.

THERE was hype and hyperbole surrounding the "historic" agreement reached at yesterday's G20 Summit in London.

So far from the international commitment to a coordinated fiscal boost he once dreamed of, the Prime Minister now seems content to accept a mere stock-taking exercise at the G20 summit next week: "Nobody is suggesting that people come to the G20 meeting and put on the table the budget they're going to have for the next year. What we are suggesting is that we have to look at what we have done so far... I see consensus, not a disagreement on that."

Hundreds of Russian banks are likely to go under by the end of the year as the amount of bad loans surges, potentially hitting as much as 20 per cent of credit portfolios, a senior Russian banker has warned.

On March 16 Russia unveiled its plans for sweeping global financial reforms designed to weaken the American dominance and overhaul the "obsolescent" world economic order of the past.

Back in the spring of 1998, when Boris Yeltsin was still at Russia's helm, I led a group of global investors to Moscow to find out firsthand where the Russian economy was headed.

A quater surveyed say their finances are keeping them up at night - literally