Putin Called for a Plurality of the World's Reserve Currency

Russian President Vladimir Putin has called on the world economy to the creation of multiple reserve currencies for getting rid of excess derivatives and enhance discipline and stability of global finance.

  "If we want to get rid of excessive derivatives, improve discipline and stability of global finance, we must move to a multiple world reserve currency ,“ Putin said at a meeting of leaders of the APEC Business Advisory Council members forum in Vladivostok on Saturday.

Putin stressed that the global financial system should have many points of reference, because if there is one the world’s reserve currency, "from the issuer of the currency will always be tempted to somehow use it to your advantage".

"In the long run it is detrimental to the issuer of the currency itself, violated the fundamental principles of the functioning of the global financial system, “ said the president.

He added that the move in this direction, using the possibilities of APEC, but act carefully and not causing anyone any harm.

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