OREANDA-NEWS. June 25, 2010. A round table named “Eurozone problems: what is the future for euro and ruble”, arranged by the Institute of Globalization Problems, took place in Moscow, reported the press-centre of FBK.

Mikhail Delyagin, the director of Institute of Globalization Problems, offered the participants to answer several questions: what are the real reasons for drop of Euro’s rate; what is the acuteness of problems and prospects, as well as what will be the influence of the European crisis on the ruble rate and Russian economy.

Igor Nikolaev, the director of FBK Strategic Analysis Department, supposes that Greek economy and the economy of several other southern European countries fell into the debt hole “due to” overstated social obligations and governmental populism. The expert reminded that Greece is almost the only one of the European countries where the number of unemployed per one vacant position during the crisis did not grow and even decreased. Artificial control of unemployment led to the growth of debts. In Portugal unemployment benefit is EUR 532, while average offered wage according to vacant positions is just EUR 523. “Why does one need to work in such comfortable country?”, - says the economist in puzzlement. Finally, state reserves are depleted and the countries that have already been united with PIGS abbreviation found themselves in a quite annoying situation.

According to Nikolaev, “correct and timely” creation of European stabilization fund shows that the Eurozone problems turned out to be far more serious than it was assumed. “In the next several months the environment in Eurozone will be unstable, the downward trend will be observed at the markets. However, I do not think that Euro must be buried. Within the strategic plan everything will be fine with Euro in 2 or 3 years. The currency will win back its positions”.

Vyacheslav Inozemtsev, the president of Center for Research of Post-Industrial Society, Sergei Suverov, the member of MICEX Index Committee and others participated in the discussion.