Russia may help Europe out of crisis

Russia does not rule out the possibility that it may help Europe overcome the crisis when it declares its final strategy, Russia’s presidential economic advisor Arkady Dvorkovich announced on Monday.

­“We are waiting for the European countries to announce a specific and comprehensible strategy to come out of the recession. If they need Russia’s aid or the help of the BRICS countries, we are ready to offer it,” Arkady Dvorkovich stated on Monday. However, he pointed out the existence of such a clear strategy is a precondition for any help Russia may deliver.

Earlier former Finance Minister Aleksey Kudrin and Foreign Minister Sergey Lavrov met with Ms. Salgado, Spain’s economy and finance minister. They discussed that and whether Russia would be involved in buying Spanish debt paper.

World stock markets, however, perked up on Monday after a weekend meeting of the leaders of France and Germany provided a promise of action on Europe’s debt crisis. The Italian stock market was also up.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said on Sunday that a comprehensive response to the debt crisis would be finalized by the end of the month, including a detailed plan to ensure European banks have adequate capital.

Greece meanwhile awaits the next tranche of 8 billion euros, about to be released by mid-November or the country will run out of money.

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