Russia » Politics
Author`s name Ольга Савка

Russian Stock Market To Recover Soon

Politician Sergey Glazyev believes, the stock market will remain shocked for a short time

Sergey Glazyev, leader of the patriotic bloc Fatherland (Rodina), has recently commented on the economic situation in Russia and the changes connected with the arrest of Yukos's CEO, Mikhail Khodorkovsky.

Sergey Glazyev believes that the collapse of the Russian stock market is absolutely ungrounded and the situation will be stabilized in a week or two. Glazyev thinks that Russian stock prices dropped because of the structure of Russia's present securities market: "Our stock market is rather speculative in its nature, it is not the market of investment. This is the result of the privatization. It will remain the same until the property relations are finally fixed and until investors are trying to gain profits without investing anything in production - they simply boost the cost of stocks. As long as the market remains speculative, speculators will use any news, good or bad, to derive profit and to destabilize the market with that," Sergey Glazyev said in a statement.

"They have been recently speculating on Mr. Khodorkovsky's trouble: the panic has made it become a political event, caused damage to Khodorkovsky and collapsed the market. Needless to mention that speculators have earned a lot on that. The reaction of the market to Mikhail Khodorkovsky's arrest in connection with the political echo is very inadequate and exaggerated. Because of the hysterics caused by several party leaders, market members believed that the situation had become political. The market reaction was similar to the reaction of political persecution. I think that present events are not a political campaign and Khodorkovsky's arrest will not be followed with the arrest of other businessmen. It is a private matter of prosecuting agencies. It will happen gradually - the people behind the collapse of the Russian stock market will understand that the reduction has reached the minimum level. They will start buying them and the process will develop backwards. I think that the market will stay shocked for a couple of days and then it will gradually recover."

Comments
China wants Moscow to confront pressure from Washington together
It is about time Russia should exit Western project
U.S. Humiliates South Korea, Threatens North Korea
USA will seize Kuril Islands immediately if Russia delivers them to Japan
Cars freeze deep into ice as Arctic cold hits Russia
NATO embraces Russia with wings of love
Europe's largest mosque to be built in Crimea
Ticking Time Bomb: Countdown to Armageddon
Ticking Time Bomb: Countdown to Armageddon
Ticking Time Bomb: Countdown to Armageddon
Cars freeze deep into ice as Arctic cold hits Russia
Cars freeze deep into ice as Arctic cold hits Russia
Cars freeze deep into ice as Arctic cold hits Russia
China wants Moscow to confront pressure from Washington together
China wants Moscow to confront pressure from Washington together
IOC wants Russia to boycott 2018 Winter Games and exit Olympic movement
IOC wants Russia to boycott 2018 Winter Games and exit Olympic movement
IOC wants Russia to boycott 2018 Winter Games and exit Olympic movement
Ticking Time Bomb: Countdown to Armageddon
Ukraine's Western allies point their guns at President Poroshenko
IOC wants Russia to boycott 2018 Winter Games and exit Olympic movement