Putin: Eurozone problems stem sooner from politics than economy

President Vladimir Putin agrees with the opinion that Eurozone problems are sooner of political than economic nature and hopes that Europeans will succeed in resolving them.

"At the summit one of my colleagues said a very correct thing that the problems in the Eurozone are related to politics, sooner than the economy. I find that this is very apt," he said at a press conference following the APEC summit in Vladivostok.

"The political system itself, the very high standard of social guarantees, the impossibility to satisfy growing consumption - all this is a very heavy burden lying on the shoulders of the European economy," he said.

He said that on Sunday the summit discussed the serious problems of the Eurozone in sufficient detail.

"We had a very active discussion on the matter. Different, I would even say opposite points of view were expressed about the way the situation in the Eurozone is going to develop," he said.

Russia "is traditionally oriented on Europe," Putin said. "We depend on that to a considerable extent and I want to stress that we sincerely wish success to our European partners in overcoming the difficulties that they are facing today," he said.

Putin also said that, "concern could be felt at the summit about the current global economic tendencies," but he added that the trends observed in Asia and the Pacific look positive.

Whereas the Eurozone posted zero growth or even demonstrated a recession, here growth is visible and this growth is quite significant," Putin said.

"This inspires optimism in the leaders of the economies representing this region," he said.

"All players in the Asia-Pacific economy are aware of their responsibility for how the socioeconomic situation will further develop," he said. "The moods are generally positive in the region and I would describe the expectations as moderately optimistic," Putin said.

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