5 Principals of Mr. Medvedev

5 Principals of Mr. Medvedev

9 октября 2008, 14:19
Общество
Russian President suggested more active system of financial market regulation at the international and local levels

MOSCOW. 9 October. VOSTOK-MEDIA. One of the reasons of the financial crisis in the world has become “first of all, economic egoism of some countries”, - said Dmitriy Medvedev at the conference on international politics in French Guiana.
“We now can see in the U.S. and other countries that self-regulated capitalism and “financial socialism’ go together – there is readiness to nationalize everything”, - said Mr. Medvedev.
“The 1990s witnessed ineffectiveness of “monopolar” economic system, - the International Monetary Fund and World Trade Organization discredited themselves. Recent time vulnerable rate of dollar has caused additional problems. Now we are witnessing fragmentation of the world financial system”.
Mr. Medvedev announced 5 principals that will help overcome the crisis and prevent it from reiteration. Russian President said that we had to develop systems of regulating financial markets at the international and local levels, make financial instruments effective and estimate their real market price; to reinforce risk managing system; make corporate transparency and equally share benefits from liberalized international trade.
“Our experts had oft-warned about growing negative trends in the resource and food markets and international economic system, - said Mr. Medvedev, - we shared our estimations of further threats within the framework of G8 in Japan and other boards”.

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