Putin, “The rapprochement of Russia and Europe is inevitable.”

27 Nov 2010

Confident for the euro, Russia and Europe may join single currency someday in the future. Mr. Vladimir Putin took part in the German – Russian summit in Berlin. The euro has proven itself “a stable world currency,” Russian Prime Minister said. “We have to get away from the overwhelming dollar monopoly. It makes the world economy vulnerable,” Putin added. Earlier in a letter edited by a German newspaper the former President wrote “We should be frank about it: The global economic crisis has revealed both Russia and the EU to be economically very vulnerable.” Mr. Putin suggested to create a free-trade zone.

Mrs. Angela Merkel called that a “vision for the future,” and stressed the need for close economic cooperation as a first step. “But the closer our economies are linked, the easier and the more interesting it will be to adjust also the currency policy,” the German Chancellor said. In the meantime, Mrs. Merkel added, Moscow had to conclude talks to join the W.T.O. Russia, which opened its bid to join the WTO in 1993, is the last major world power not a member of the Geneva-based global trade body.

Mr. Putin expressed criticism to the Third Energy Package. Agreed in 2009, it was designed to liberalize the EU’s energy markets by separating the production and distribution networks of large energy companies to foster more competition. The other element of the package allowed smaller energy companies access to the grids, which had been blocked by the big companies. “Our companies, together with German partners, legally acquired distribution assets in Lithuania,” Mr. Putin said. “Now they are being thrown out there with reference to the Third Energy Package. What is this then? What is this robbery?”

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