It is very difficult to enter a single currency zone having fairly weak economic parameters and maintain a favourable state of the economy, not to mention positive growth rates. We have witnessed it not only in Europe, but for example in Argentina (nearly 10 years ago or more), when they tied the national currency to the dollar and later they did not know what to do about it.
Vladimir PutinThe sooner the Iraqi people are able to take their country's destiny in their own hands and establish their own control over it and its national resources, the sooner the process of pushing the forces of international terrorism out of Iraq will be able to begin. And the sooner the process of consolidating Iraqi society itself will also be able to begin.
Vladimir PutinWe have made mistakes! We were too late. If we had presented our national interests more clearly from the beginning, the world would still be in balance today.
Vladimir PutinThis is also evident in Europe, not the dependence on oil and gas, but the fact that structural reforms are long overdue, and I think that the leading economies are very pragmatic and efficient in addressing the issues facing the European economy. That is why we keep approximately 40 percent of our gold and foreign currency reserves in euros.
Vladimir Putin