CHUBAIS SEES BANK CRISIS AS "VACCINATION" AGAINSTFUTURE PROBLEMS
Publication: Monitor Volume: 1 Issue: 84
. Deputy Premier Anatoly Chubais told Moscow’s Mayak radio August 28 that the recent bank crisis, which hesaid was now easing, could serve as a "good vaccination"against future speculative activities. He added that there werefar too many banks in Russia now– some 2,500– many of whichare fronts for organized crime, and that a reduction in theirnumber as a result of the crisis would be a good thing. Meanwhile,Yabloko party leader and economist Grigory Yavlinsky chargedthat the government itself had provoked the crisis in order to force troubled banks to provide financial support to Chernomyrdin’s"party of power." But Yavlinsky added that the governmenthad done this in its usual clumsy way and thus damaged the country’sbanking system as a whole. And Duma economics committee chairmanSergei Glaziyev told Russian television August 28 that the government’s approach to the banking crisis and to the economy as a wholewas inevitably leading to another "Black Tuesday."
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