26 Nov 2010 18:44

Worries about repeat world economic crisis persist - Gref

NOVOSIBIRSK. Nov 26 (Interfax) - Sberbank of Russia Chairman German Gref has said he thinks concerns about a repeat of the world economic crisis persist.

"Obviously, worries about a possible repetition of the crisis that we saw are still there," Gref told the press in Novosibirsk. "It is appropriate now to worry about what happened in 2007-2008 - inflating soap bubbles, excess liquidity on the market, per se."

"The situation with state debt and budget deficits in a majority of the developed countries is significantly more difficult, which is why we see that efforts are being made in the ten strongest countries to stave off a crisis situation," Gref said.

The general macroeconomic situation is complicated also by the fact that "we are still far from having gotten out of the condition that we were in," he said.