Vladimir Putin: Its time to do dvulichnichat

Vladimir Putin: "It is time to stop hypocrite"At the summit opens, now the "Big Twenty" in the Mexican town of Los Cabos will not only open a discussion of economic issues of the euro crisis, will also see some action on the development of the world economy.
In this regard, president Vladimir Putin in his article "Group 20" and the global challenges of the economy "for the Mexican newspaper El Universal G20 urged to continue reform of the global monetary architecture. According to him, the divergence of the dynamics of money markets to indicators of real sector makes additional preconditions for the growth of distrust and impermanence.

"In addition, the problems that arise with the banks and the extent of speculation, and then collapsing markets, demonstrate that global financial architecture is still nedoreformirovannoy, there are many inherent risks and internal contradictions. With all this, it has failed to take a "hard ground under their feet", "bind" to real assets and values, "- RIA" Announcements "words Fishing season.

First, according to the views of the President, should strengthen regulation of derivatives turnover, to ensure consistent application of the new system of monetary management "Basel III", which reduces the ability for the emergence of various "dummy" and "bubbles." Putin also said that the need to "contribute to the formation of new reserve currencies, expanding the scope of their introduction into the global trade and investment."

In addition, president warned of the loss of confidence in the ability of the "Big Twenty". "We realize how important to maintain the confidence of G20. And it can be devalued if a joint decision by good will declarations," hung in the air "with no implementation and control", — Putin said. According to him, "Twenty" should not be reincarnated "once elite club, selfishly taking care only about their own members."

"The essence and the meaning of our joint activity — development of fair rules for the sustainable development of the world economy", — stated in the article. He recalled that four years back global economy "Faced with unprecedented crisis."

"And for the first time in the history of favorites, representing almost 90% of world GDP, showed a real eagerness and ability to coordinate economic policies. Main thing — to keep the world from sliding into a dead end trade wars and protectionism complete, began work on restoring order in the international monetary and financial system "- highlighted president RF and added that it specifically assist G20 gain "status as a leading global forum on economic dilemmas and money."

"In the midst of crisis, specifically through G20 have been implemented measures to increase the capital of all the major multilateral development banks as well as the resource base of the IMF. Which, in turn, has allowed these institutions to support more affected countries", — Putin said.

In addition, the Russian favorite offers a "Big Twenty" does not mask the protective measures under environmental or technical constraints, and to agree on an acceptable level of protection in times of global crises.

"It's time to end the dvulichnichat and honestly agree on an acceptable level of protection measures to preserve jobs during the global crisis. For us, it is especially important, since our home this year, joining the WTO, and we want to engage in intensive discussions on the future rules of world trade, "- Vladimir Putin highlighted.

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