Kudrin believes in euros

Russian Finance Minister Alexei Kudrin believes that the euro will be a stable currency. Moreover, the current crisis will make the integration within the EU more intense, said today the Russian Deputy Prime Minister media. "I am confident in the future the euro and I do not think that changing the course, which can be called a small currency crisis, will reduce future of the euro," - he said. Kudrin drew journalists' attention to the fact that at the end of 1980 the dollar has fallen 2 times in relation to all currencies, but "it did not diminish his role." Kudrin explained that he was of the opinion that "the crisis euro zone will develop new tools to consolidate their finances and consolidate the position of the euro." The Russian minister believes that the currency problems have helped reveal weaknesses in the eurozone economic policy and now, thanks to the measures and to develop mechanisms, integration within the EU will increase. Kudrin told reporters about his point of view, what should be the basic parameters of the budget. According to him, the Ministry of Finance (MOF) of Russia offers to calculate the federal budget expenditures for 2011-2013 based on the price of oil at 70 dollars per barrel. He stressed that if the calculation of the budget for the next three-year lay a higher price for oil, it will increase the dependence on fluctuations in price in 2011-2013. Accordingly, the risks to balance the budget increase. "If the price is not oil falls to $ 50 a barrel, it will be difficult to cover such a deficit," - "Kudrin said. Earlier, the Minister of Economic Development maintains the base case oil price in 2011 in the amount of $ 76 per barrel.