Russia’s ex-finance minister predicts 2-3 more years of eurozone crisisFebruary 10, 2012 - 14:02 AMT PanARMENIAN.Net - The European Union will continue to grapple with a debt crisis for the next two or three years, Russia's former finance minister Alexei Kudrin said on Friday, Feb 10. According to RIA Novosti, responding to a question from a Twitter user whether Italy would return to the lira in 2012, Kudrin said that would not be clear until after 2012. "The debt crisis in Europe will unfold over (the next) two or three years. This is why the fate of the Italian currency will be known after 2012," Kudrin wrote in his Twitter account. He said in late January that the currency crisis in Europe had already started and that he was 90 percent certain that one to three states would leave the eurozone. Greece, Ireland and Portugal have the largest debt problems, while Spain and Italy may enter the high-risk zone in the near future. As for gold, Kudrin wrote that it is overrated and gold prices might grow in the short-term but will decline after that. Prices for gold went up nearly 10 percent in 2011, an eleventh straight year of gains and the longest growth streak since 1920. Investors view gold as a safer alternative to unstable currencies and highly volatile shares amid debt crisis in the EU states and rising inflation in various countries. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |