Support The Moscow Times!

Kudrin Speaks Up for Greece

WASHINGTON — Saving Greece from a default would be better for the euro-zone countries and ease the threat of similar developments in Spain and Italy, Finance Minister Alexei Kudrin said Saturday.

"It is better to save [Greece]," Kudrin told journalists at the sidelines of global policymakers' semiannual meeting in Washington.

"Risks of the world economy would increase drastically, interest on Italy and Spain's debt would increase dramatically, and it would be harder for them to service their debt. It's like at the front: breaking the front even narrowly already weakens the entire army and brings the enemy within," Kudrin said.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.