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Russian and Finnish PMs discuss financial crisis

Finland’s Prime Minister Jyrki Katainen has met with his Russian counterpart Vladimir Putin in the Black Sea resort of Sochi. Both leaders expressed satisfaction with the state of bilateral ties.

Suomen ja Venäjän pääministerit Jyrki Katainen ja Vladimir Putin lehdistötilaisuudessa.
Suomen ja Venäjän pääministerit Jyrki Katainen ja Vladimir Putin pitivät tapaamisensa jälkeen lehdistötilaisuuden Sotshissa 9. elokuuta. Image: Yle

They discussed the current international financial crisis. Putin said Russia was shielded to a large degree from the current crisis as the country had built up both its currency and gold reserves.

The Russian Prime Minister added the more fear existed, the quicker the crisis would grow.

Jyrki Katainen admitted that over-pessimism was difficult to avoid but the truth had to be told. The danger existed that consumers would become more cautious leading to a slackening of economic growth.

The Finnish Prime Minister also defended the tough stance towards crisis nations within the euro zone. Katainen said solutions on loan guarantees had to be achieved regardless of the consequences.

Bilateral problems seemed very distant as the two men discussed ways to promote the growth of trade as well as the increased Finnish investment in Russia.

Ties between the two countries were described as good.

This is Katainen's first meeting with Putin since taking office in late June.

He is accompanied on the trip by Minister for European Affairs and Foreign Trade Alexander Stubb of his own National Coalition Party – rather than Stubb’s successor as Foreign Minister, the SDP’s Erkki Tuomioja.

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