Vladimir Putin lashes US for economic failures

Philippe Naughton
Times Online
October 1, 2008

The Russian Prime Minister Vladimir Putin lashed out at the United States today for what he said was its inability to deal with the financial crisis affecting the global economy.

In remarks unlikely to go down well in Washington, Mr Putin was especially critical of Congress’s rejection of a $700 billion bank bailout – a rejection that hit Russian financial markets particularly hard.

“Everything that is happening in the economic and financial sphere has started in the United States. This is a real crisis that all of us are facing,” the former president told a government meeting in Moscow.

“And what is really sad is that we see an inability to take appropriate decisions. This is no longer irresponsibility on the part of some individuals, but irresponsibility of the whole system, which as you know had pretensions to (global) leadership.”

Highly leveraged Russian companies have been hit hard by the credit crunch, which has made it virtually impossible to secure borrowing abroad.

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This article was posted: Wednesday, October 1, 2008 at 9:32 am

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