09-15-2008, 11:45 PM
<b>Russia Market Drop May Temper Medvedev Georgia Moves</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Sept. 15 (Bloomberg) -- When it comes to containing Russia, the invisible hand of the markets may be the West's most potent weapon.
<b>Tightening access to international credit and mounting stock losses are hurting Russian billionaires as well as state- owned corporations, prompting calls by businessmen to heed Western complaints over Kremlin policy in Georgia. </b>
The head of the country's biggest business association, the Russian Union of Industrialists and Entrepreneurs, met President Dmitry Medvedev, urging him to take ``anti-crisis'' measures.
``The stock market is plunging, capital is fleeing, there is a severe shortage of liquidity in the banking system, prices for many core exports are falling and inflationary pressures are strengthening,'' the business group's Alexander Shokhin said today in a live televised Kremlin meeting. Current policies ``may turn out to be inadequate,'' he said.
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<b>Tightening access to international credit and mounting stock losses are hurting Russian billionaires as well as state- owned corporations, prompting calls by businessmen to heed Western complaints over Kremlin policy in Georgia. </b>
The head of the country's biggest business association, the Russian Union of Industrialists and Entrepreneurs, met President Dmitry Medvedev, urging him to take ``anti-crisis'' measures.
``The stock market is plunging, capital is fleeing, there is a severe shortage of liquidity in the banking system, prices for many core exports are falling and inflationary pressures are strengthening,'' the business group's Alexander Shokhin said today in a live televised Kremlin meeting. Current policies ``may turn out to be inadequate,'' he said.
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