Deterioration of economic situation in EU possible, Russia prepared - Ignatyev
MOSCOW. May 16. (Interfax) - A deterioration of the financial and economic situation in the European Union is possible, and Russia is better prepared for a second wave of crisis than it was in 2008, Central Bank of Russia (CBR) Chairman Sergei Ignatyev said at the State Duma on Wednesday.
"An exacerbation of the situation [in the EU] is possible - I don't rule that out. I can tell you with full responsibility and honesty: we are ready for this crisis, possibly better than in September 2008," he said.
"Anything is possible. Right now my assessment of what's going on abroad is a bit worse than half a year ago. I was sure that European politicians would strike an agreement," he said. The problem is first and foremost political in nature, because the financial situation is the EU is no worse than in the U.S. or Great Britain. "But in the EU there is not one country, but many countries, and every country has its interests. There may be surprises, and a second decline is possible," he said, noting that the majority of EU countries are already observing a recession.