Economy World

Debt crisis: Europe needs 2,000 to 3,000 billion euros (Kudrin)

Europe needs 2,000 to 3,000 billion to resolve its debt crisis, said the former Russian Finance Minister Alexei Kudrin at an international conference organized in Moscow by Sberbank on Saturday.

“We lost the battle for Greece, it is now to save larger economies in the euro area (…) It will cost much more. I think from 2000 to 3000 billion euros cited therein which a significant portion should come from the European Central Bank (ECB), unfortunately realistic, “said Kudrin.

After 11 years as Finance Minister Alexei Kudrin was dismissed on September 26 for saying he would refuse to participate in a new government under the leadership of Dmitry Medvedev because of disagreements over economic policy and the increase military spending.

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