As if Russia had ever contributed anything to the global economy.

 

B

 

http://www.reuters.com/article/2011/08/01/us-russia-putin-usa-idUSTRE77052R2
0110801 


Putin says U.S. is "parasite" on global economy


Russian Prime
Minister Vladimir Putin answers questions from the audience
during his visit to the summer camp of the pro-Kremlin youth
group ''Nashi'' at lake Seliger, some 400km (248miles) north
of Moscow, August 1, 2011. REUTERS/Mikhail Metzel/Pool

By Maria Tsvetkova

LAKE SELIGER, Russia | Mon Aug 1, 2011 5:45pm EDT 

(Reuters) - Russian Prime Minister Vladimir Putin accused the United States
Monday of living beyond its means "like a parasite" on the global economy
and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of
their problems to the world 

economy <http://www.reuters.com/finance/economy> ," Putin told the
pro-Kremlin youth group Nashi while touring its lakeside summer camp some
five hours drive north of Moscow. 

"They are living like parasites off the global economy and their monopoly of
the dollar," Putin said at the open-air meeting with admiring young Russians
in what looked like early campaigning before parliamentary and presidential
polls.

US President Barack Obama earlier announced a last-ditch 

deal <http://www.reuters.com/finance/deals>  to cut about $2.4 trillion from
the U.S. deficit over a decade, avoid a crushing debt default and stave off
the risk that the nation's AAA credit rating would be downgraded. 

The deal initially soothed anxieties and led Russian 

stocks <http://www.reuters.com/finance/stocks>  to jump to three-month
highs, but jitters remained over the possibility of a credit downgrade. 

"Thank god," Putin said, "that they had enough common sense and
responsibility to make a balanced decision."

But Putin, who has often criticized the United States' foreign exchange
policy, noted that Russia holds a large amount of U.S. 

bonds <http://www.reuters.com/finance/bonds>  and treasuries. 

"If over there (in America) there is a systemic malfunction,

this will affect everyone," Putin told the young Russians.

"Countries like Russia and 

China <http://www.reuters.com/places/china>  hold a significant part of
their reserves in American securities ... There should be other reserve
currencies." 

U.S.-Russian ties soured during Putin's 2000-2008 presidency but have warmed
significantly since his protégé and successor President Dmitry Medvedev
responded to Obama's stated desire for a "reset" in bilateral relations.

EARLY CAMPAIGNING?

Casually dressed in khaki trousers and a striped white shirt, Putin flew by
helicopter to the tented camp as part of a string of appearances that are
being closely watched in the run-up to the elections.

He did not say whether he plans a return to the Kremlin or will stand aside
for Medvedev, his partner in Russia's leadership tandem, to run for a second
term.

But young people crowding round Putin, caught up in the campaigning spirit
created by huge portraits of Putin hung from trees, were not shy about
saying who they wanted as president.

"Russia's next president will be small, bald and look like Putin,"
17-year-old Ilya Mzokov joked with reporters. Asked why Medvedev was not
paying a visit to the summer camp, he said: "Only serious people come here."

Youngsters chanted Putin's name and applauded his remarks as he strolled
round the camp, where US-style business seminars, extreme sports and
political mudslinging were among the topics on offer.

Putin, whose macho image appeals to many Russians, briefly swung himself up
the first half of a climbing wall, filmed by a gaggle of state television
cameras.

Nashi, which means "Our People," was created by the Kremlin to counter
popular dissent after youth activism helped topple a pro-Moscow government
in Ukraine's 2005 Orange revolution.

The group has worked to spread a personality cult around Putin and regularly
campaigns against Kremlin critics.

Opinion polls show Putin, still widely viewed as the country's paramount
leader, retains near 70 percent approval.

But his United Russia party is trying to reverse a slide in popularity
before December parliamentary polls, hoping to use a strong showing there to
help Putin in the March 2012 presidential vote.

(Writing by Alissa de Carbonnel; editing by Tim Pearce)



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