VTB CEO Kostin urged to wait for a new global crisis – Kommersant

The head of VTB, Andrei Kostin, believes that there are no signs of an impending global economic crisis yet. At the same time, he urged to expect such a situation, since global crises always happen suddenly.

“I don’t see any signs of a global crisis yet. In principle, I don’t see any such explosive topics yet,” the head of VTB said in an interview RBC. According to him, the US economy is unexpectedly performing better than before. “China, by the way, has gotten a little hooked, but it seems to me that this is not a death sentence – it also has its own logic, its own economic restructuring,” he believes.

At the same time, Andrei Kostin noted that a crisis always happens unexpectedly, so “we must always wait for it.” “The Central Bank is setting us up this way through various stress tests,” said the head of VTB. In this context, he recalled the coronavirus pandemic, which no one expected and which provoked a crisis in the global economy.

Today is the anniversary of the start of the 2008 global financial crisis. It was on September 15 that the American investment bank Lehman Brothers filed for bankruptcy due to huge positions in mortgage bonds that had become problematic. The collapse of this investment bank is usually called the culmination of the mortgage crisis in the United States, which began in August 2007. during the global financial crisis.

Moreover, in the latest review of the World Trade Organization (WTO) it saysthat the most effective tool for maintaining stable economic growth rates and overcoming crises is the course of recent decades towards globalization.

Read more about this in the material “The WTO opposes the fragmentation of economies”.

Anastasia Larina