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Vladimir Putin speaks at Davos economic forum · 2009-01-29 12:25

Vladimir Putin, demoscope.ruRussian Prime Minister Vladimir Putin has told the Davos economic forum it is dangerous for the world to over-rely on the dollar as its reserve currency.

He called for a range of reserve currencies and said he envisaged the emergence of several strong regional currencies in the future, BBC informs.

He advised against isolationism and state economic control as ways out of a "perfect storm" in the world economy.

In remarks to the World Economic Forum in Davos, Switzerland, Putin walked away from his earlier pro-military spending stance to station Iskander missiles in the Kaliningrad enclave on the Baltic Sea, New York Daily News reports.

"We are against spending more money on military efforts," Putin said. "We have to make international relations less dangerous."

Putin also pleaded with business leaders at the forum, who dumped Russian stocks after Moscow's war with Georgia last summer, to come back.

“We will keep up the policy of openness to foreign investment," Putin said. "Regardless of their political or economic system, all nations have found themselves in the same boat."

Vladimir Putin became prime minister last year after two presidential terms which saw rapid economic growth in Russia.

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