Together with Chairman Ignatiev and the other colleagues we look at the best ways to prevent a disorderly unwinding of global imbalances and to pave the way for an orderly and smooth reduction of these global imbalances. - How do you assess the Russian banking system, its general soundness and in particular at the current juncture?
I would first of all like to clarify that – of course - the assessment of the Russian banking system is the responsibility of the pertinent Russian authorities. The Bank of Russia and the Eurosystem discuss relevant financial developments and stability in both economic areas, including the occasion of our annual seminars.