“The countries of Europe must show courage and support nations such as Greece, who are in a difficult situation,” Putin said to the Chinese media during his visit to Beijing. The Russian prime minister said that Europe’s debt crisis in not economic, but rather political noting that “the most acute problem today in the euro area is Greece, but Greece is only 2 percent of Europe’s GDP and certainly (the Eurozone has the sufficient funds it needs) to end this crisis.”
Approximately 1 to 1.5 trillion Euros is required, according to Putin, to resolve the financial problems of the Eurozone. It is “no small amount of course, (but it is) respectable, and it is absolutely possible for the Eurozone to cover it”, he said.
Putin’s estimate in part agrees with that of British Prime Minister Gordon Brown, who had estimated that the European mechanism needed rescue funds amounting to about 1 trillion. Euros.
The situation in Europe, he added, is unfortunately having negative repercussions throughout the world. Putin said that the countries of the BRICS (Brazil, Russia, India, China, and South Africa) do not need to play a special role at present, because European funds have sufficient resources to cover these problems.