VTB chief: EU will be able to keep Eurozone in its current form

The head of VTB, Andrei Kostin, is of the view that the European Union will be able to keep the European currency union in its present form.

"I think that the Eurozone will persist. Naturally, stability and faith in the euro has been weak for a while, but European countries still have the resources to overcome a Eurozone collapse," Kostin said at a briefing during the Asian-Pacific Economic Cooperation (APEC) summit on Russky Island in Vladivostok on Friday.

The Eurozone situation is being addressed in the context of the APEC business summit, Kostin said.

"All in all, if one speaks about the views of the members, the representatives of the different countries of the APEC - China, Australia, and a number of others - nonetheless will look through a positive scenario for the development of the European situation. The euro endures, and the format of the European currency union will most likely remain as it is now," Kostin said.

The latest steps taken by the European Central Bank in this direction "will help resolve the EU countries' debt problem and will in this context have a good impact on the entire world financial credit system," Kostin said.

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