Russia interested in stable euro - Siluanov
NOVOSIBIRSK. Feb 17 (Interfax) - Russia is interested in the stability of the euro, said Russian Finance Minister Anton Siluanov.
"We are monitoring the situation in the eurozone because we do not want its problems to spread to Russia. This could lead to a decrease in our exports to the eurozone and therefore to a decrease in our industrial production," Siluanov told Interfax on Friday.
"We are interested in euro being a stable currency, not least because 40% of all gold currency reserves are lodged in euro assets. We want the situation to stabilize," the minister said.
The next meeting of the G20 finance ministers will focus on the additional capitalization of the International Monetary Fund (IMF) "to enable the Fund to take part in the stabilization, including in the eurozone," he said.
"Russia is ready to participate in this capitalization, provided that other participants work out a united, consolidated solution," Siluanov said.
Russia's participation in the IMF capitalization was announced earlier at "around $10 billion," he said.
Asked whether the Russians who have euro savings should switch to another currency, given the current situation in the eurozone, Siluanov said: "I think one must never fuss about. This will not lead to anything good. Market conditions are changing. And changing assets from one currency to another could lead to people losing on the difference in the commission for this exchange."