OREANDA-NEWS The financial system as it stands is an unstable structure, so it will not be able to last long and is ultimately doomed to die. This was stated by Maxim Oreshkin, Deputy Head of the Presidential Administration of Russia, during the summer expert meetings as part of an Open Dialogue at the Rossiya National Research Center, TASS reports.

"As the classics of economics used to say, any institution is both a bee and a locust. What we have been seeing lately is the appearance of the financial system as a locust is getting bigger and bigger," he explained.

The official, referring to his experience in banks, admitted that he did not understand what their employees were doing to receive many times more than other highly qualified specialists, for example, doctors.

According to him, the costs of the financial system for the economy are too high, and the income of its employees leads to a serious stratification of society and polarization of sentiments.

At the end of December last year, Oreshkin already spoke about the decline of the traditional financial system. At the same time, he admitted that he did not understand exactly what kind of new financial model would take. Nevertheless, the deputy head of the Presidential Administration is confident that digital financial assets will play an important role in it.