1. Discuss politics - join our community by registering for free here! HOP - the political discussion forum

Global economic crisis to last for 3 more years

Discussion in 'World Politics' started by Calu Balan, Apr 15, 2009.

  1. Calu Balan

    Calu Balan New Member

    Apr 15, 2009
    Likes Received:
    The Russian authorities have been lost in their own forecasts. First Vice Prime Minister Igor Shuvalov once said that Russia had already overcome the peak of the crisis. Hardly had the Russians rejoiced over the news when Finance Minister Aleksei Kudrin showed everyone from heaven to earth when he said that Russia was expecting a second wave of the crisis.

    What is actually happening? Officials attempted to find a common denominator at during the international conference at the Supreme Economic School yesterday.

    “We have already performed the hard landing. The worst has been left behind,” the first deputy chairman of the Central Bank administration, Aleksei Ulyukayev said.

    The audience found the official’s statement quite surprising, so Mr. Ulyukayev had to continue. He said that there was no economic bottom, which a country could reach and then spring forwards.

    “The abyss for mammals is a normal habitat for fish,” the official said.

    Mr. Ulyukayev did not specify, which class of the animal world Russia was referred to in his metaphorical comparison. He continued his game of associations and said that a second wave of crisis did not exist in the natural world either.

    “This is not a wave. A whale looks like fish, but it is not fish. It only means that we exaggerate our problems,” the official said.

    Even if Russia had performed its emergency landing in the financial crisis, it will have to come a long way before it could take off and fly high again.

    “The bank crisis in Russia has just begun. It will come from the real sector of economy,” the head of Sberbank, German Gref said.

  2. marklutroni

    marklutroni Member

    Apr 28, 2009
    Likes Received:
    I'd be very optimistic and as well as very hopeful that it will only last for that long..

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice