By Marcus Williams.
Russia may rescue Europe from its debt crisis provided it sees a concrete rescue plan from the continent’s partners, President Dmitry Medvedev’s economic aide said yesterday.
Former finance minister Alexei Kudrin and Foreign Minister Sergei Lavrov discussed the issue of debt with Spanish Finance Minister Elena Salgado, according to the aide Arkady Dvorkovich.
“We expect the European countries to announce a concrete, clear crisis exit strategy. If support from Russia and other BRICS (Brazil, India, China and South Africa) nations is needed within the framework of this strategy, we are ready to render such support,” Interfax quoted Dvorkovich as saying.
Russia is also considering doling out $3.4bn to Cyprus by the end of the year. During the 2008 economic crisis, Russia looked at bailing out Iceland with a multi-billion dollar loan which never came to pass.
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