25 Sep 2012 23:05

Russia believes euro will be preserved - Putin

MOSCOW. Sept 25 (Interfax) - Russia believes the common European currency will be preserved despite the ongoing crisis, Russian President Vladimir Putin said.

"It is true that a significant part [of Russia's gold and foreign currency reserves], which is slightly less than half, are in euro, and we perfectly understand all risks involved, but we believe the fundamentals of the European economy are such that the common currency will be preserved," Putin said at a press conference following talks with Luxembourg Prime Minister Jean-Claude Juncker.

Russia sees the European Commission's and the key euro-zone players' determination to change the situation radically for the better, Putin said. "We trust this policy," he said.