APPutin says the current global financial system made the crisis "impossible to avert."
He says "cheap money doping and mortgage troubles in the United States have caused a real chain reaction, paralyzed the global financial system and brought global distrust to the market."
He was addressing a meeting Thursday of the main pro-Kremlin United Russia party. Putin, however, sounded confident that Russia would emerge stronger from the turmoil.
Finance Minister Alexei Kudrin said at the sidelines of the event that Russia's 2009 year budget may see a deficit of up to 1 percent, the first shortfall in years.
The Kyiv Post is hosting comments and forums to foster lively debate. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. If you think that a posted comment violates these standards, please flag it and alert us. We will take steps to block violators.
Comments (0)
