Prime minister sees signs of second wave of crisis
2011-04-27 17:05:30
Ukrainian Prime Minister Mykola Azarov has said he sees the signs of a second wave of crisis in the growing prices of oil and food.
"What characterizes the situation in the world? First of all, the uncertainty and instability of the major financial markets. Well-known experts and international financial institutions warned about the possibility of a second wave of global crisis. The symptoms of this are obvious. This is a rapid increase in prices for crude oil and petroleum products... The prices of food are also growing rapidly," he said at a Cabinet of Ministers meeting on Wednesday.
"All this is based on the instability of the major reserve currencies. Moreover, these processes are based on the excessive deficit of economies that issue reserve currencies," the prime minister said.
According to Azarov, these are interconnected processes. "They demand that we change the social and economic policy of Ukraine in order to increase the resistance to such an obvious threat," the press service of the Cabinet of Ministers quoted him as saying.
The talk of a second wave of crisis was very popular a year ago. There have recently been no significant statements on this matter.