“The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.”
“In our opinion, the economy of the future must become an economy of real values. How to achieve this is not so clear-cut. Let us think about it together.’
“Excessive dependence on a single reserve currency is dangerous for the global economy. Consequently, it would be sensible to encourage the objective process of creating several strong reserve currencies in the future. It is high time we launched a detailed discussion of methods to facilitate a smooth and irreversible switchover to the new model”.
Putin’s speech represents a clear counter-blast to Brown madness and the continuing Anglo-saxon drive for global hegemony. This globalism without hegemonism makes perfect sense for the Russians, just as it does for the Chinese, the Indians and the South Americans, none of whom have the remotest chance of becoming hegemons themselves, yet will not submit to Anglo-american power and have all to gain from an equitable, cooperative international system.
Prime Minister Vladimir Putin’s speech at the opening ceremony of the World Economic Forum Davos, Switzerland January 28, 2009
Good afternoon, colleagues, ladies and gentlemen,
I would like to thank the forum’s organisers for this opportunity to share my thoughts on global economic developments and to share our plans and proposals.
The world is now facing the first truly global economic crisis, which is continuing to develop at an unprecedented pace.
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