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The speaker of the Russian Federation Council, Sergei Mironov, excludes an opportunity for the 1998 financial collapse to repeat in present-day Russia. “There will be no default. I am certain that the 1998 situation will not repeat here,” Itar-Tass quoted Mironov as saying.
The speaker said that Russia had saved a considerable amount of financial assets, including those in gold and currency reserves, and could therefore meet its obligations.
At the same time, the official said that there were no grounds for optimism in the estimation of the current financial situation.
“This is a serious crisis, and there is every reason to believe that it will be a rather long-lasting one,” Mironov said.
The speaker said that Russia had saved a considerable amount of financial assets, including those in gold and currency reserves, and could therefore meet its obligations.
At the same time, the official said that there were no grounds for optimism in the estimation of the current financial situation.
“This is a serious crisis, and there is every reason to believe that it will be a rather long-lasting one,” Mironov said.
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