| Publication |
2012.
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| Summary/Abstract |
The declaration of colossal losses on the subprime mortgage markets by the French bank BNP Paribas in August 2007 and the bankruptcy of the U.S. bank Lehman Brothers in September 2008 were the universally recognized omens of the looming global financial crisis. Five years have passed since then. The world is different. The economic life is now harsher, harder and sometimes beyond rational control on the basis of customary solutions that have taken decades to devise. Russia is no exception. Its economic problems are getting worse and very far from being resolved. But it is already clear at this point that we shall have to tackle them in close cooperation with partners and with due regard for global development trends.
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