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The G20 format must initiate shaping a new financial architecture

March 31, 2009

At the news conference on the outcomes of the Russian-German talks in Berlin, Dmitry Medvedev called on the G20 summit not to be limited merely to making a final declaration, but rather, to serve as a means to begin work on forming the global financial system of the future.

At the talks Russian President had with Federal Chancellor of Germany Angela Merkel and at his meeting with German business community, the impact of the financial crisis on bilateral cooperation and joint measures to be taken to resolve related problems were discussed. As the president noted, Russia and Germany do not have any fundamental differences in their approach to overcoming the crisis.

According to Dmitry Medvedev, manufacturers and industries certainly need assistance. Nevertheless, macroeconomic stability and international financial markets stabilisation cannot be understood as support to some particular business entities.

Finding response to the global crisis challenges will be the key subject of discussions in London, the president emphasized.

As Dmitry Medvedev put it, the meetings which took place in Berlin were a good opportunity to verify mutual standings on the eve of the London summit.

March 31, 2009