Moscow abandons bail-outs for bank aid / Putin signs off second wave of bank bail-outs

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Series Details 5.2.09
Publication Date 05/02/2009
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Article reports that Russia signalled a change in its policies to fight the financial crisis on the 4 February 2009, indicating that it would switch from bailing out individual companies to supporting the economy through the banking sector.

Moscow also plans huge budget cuts in an attempt to limit its fiscal deficit – rejecting pressure to follow the US and other western countries to try to stimulate the economy with a big boost in public borrowing.

Related Links
Russia Today, 5.2.09: Russian Government provides more funds for banks http://rt.com/news/

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