Euro zone needs a plan before Russia can help

by fm

14th September 2011

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1 min read

Europe must come up with a clear strategy on how to save its debt-ridden states before Russia could make a commitment to increase its holdings in the euro zone, President Dmitry Medvedev's chief economic adviser told Reuters on Wednesday.

"We would like to know what actions will the European Union take itself, what scenario will they opt for: a default on Greek debt default or no default? Whom will they help: banks or governments?" Arkady Dvorkovich told the Reuters Russia Investment Summit.

"We should know what will happen before we make any decision. Without this information, a decision on a substantial increase of holdings is not possible. For now, we have no clarity."