Natalia Smirnova: In order to stimulate the Russian economy, citizens need to become more involved in the banking and financial system by investing in stocks and bonds. However, marketing bank loans and investment in financial markets to people will not help unless it is combined with a program of financial literacy for everyone.
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Last Tuesday, Europe’s finance ministers bestowed upon three offices the heavy charge “of defending the integrity of the European financial system, much like the Queen’s three musketeers.” ++ A fourth musketeer was created in the form of a European committee on systemic risk, a type of new d’Artagnan. ++ However, the competencies of these new authorities are not
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