Thursday, 16 August 2012

Russia Prepared for Possible Economic Meltdown – Putin

The Russian economy is prepared for a possible economic meltdown as a result of the slowing of global growth and the escalating eurozone debt crisis, President Vladimir Putin said on Thursday.

At a meeting with regional ombudsmen, Putin said the situation was complex both in the European and global economies.

“In the United States, the engine of the world economy, the situation looks better but macroeconomic indices that are vital for the economy’s sustainability are no better than in Europe. Their debt state [in the United States] is 104 percent [of U.S. GDP],” he said. (Read further: Source)