Alexander Mirtchev – Expert on the situation in the Russian banking system

The Russian government will not be easy work, to call to order the Russian banks. Banks eagerly accepted by the Government allocated aid, but the government is not happy the way banks use it. Russian prosecutors have already issued a warning to 70 Russian banks that have used these funds intended to stimulate lending for the purchase of foreign currency, undermining the Russian ruble.

Our correspondent Ellen Pinchuk asked Alexander Mirchev, founder of the company KRULL Corp, Which helps elite clients, private companies and sovereign nations cope with economic, social and structural constraints, assess the situation in the Russian banking system.

Alexander Mirchev: I do not see anything wrong. On the one hand, banks have tried to find a financial solution to their difficulties, but on the other – we should not forget that all this happens in a context of deep global economic crisis, to which each country tries to cope by local measures. The crisis will remain with us for a long time, so that measures are taken now in Russia to combat the crisis, more or less adequate to the task. But to address the global problems need global solutions. Otherwise, there will be new regional alliances, which will take protectionist measures, fragmenting the world economy and hinder the solution of its problems.

Pinchuk: Debt of Russian companies to foreign creditors more than $ 400 billion and it will pay over the next four years. Is this not cause for alarm?

Alexander Mirchev: This is not just Russia. International banks offered to Russian companies to negotiate a debt restructuring and presented a very impressive restructuring plan. To be significant restructuring of debts of Russian companies. This process will take place in all emerging economies, Russia is no exception. It will focus on reliability and quality of assets, not its liquidity.

Dr. Alexander Mirtchev is the founder and president of Krull Corp., USA, a global strategic solutions provider, with a focus on global economic security, new economic trends and emerging policy challenges.

Article source Alexander Mirtchev on Voice of Russia
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