The Crisis In Europe Is Political Rather Than Financial

Opinion: (Vladimir Putin, Prime Minister of the Russian Federation): “Russian Prime Minister Vladimir Putin has urged Europe’s leading states to help their more profligate eurozone partners, describing the persisting debt crisis as a ‘political problem.’

“‘So far the European debt problem is still a political problem, not purely an economic one,’ Putin was reported as saying during a visit to China on Tuesday.

“Although Greece is the eurozone’s worst-hit member, Putin pointed out, the country’s economic volume accounts for no more than 2 percent of Europe’s GDP.

“‘Some experts believe the scale of assistance in the European debt crisis is likely to reach 1 to 1.5 trillion euros. It’s not a small figure, but I believe the EU can afford it,’ Putin said according to reports in the local media.

“Big European nations must make a political decision to provide aid to their fragile peers, and this ‘demands political encouragement,’ Putin was quoted as saying.”

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