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The crisis in the Caucasus and the near collapse of the global financial system are so far the main focus of the Russian President's annual speech. For the first time since the beginning of his term in office, President Dmitry Medvedev is addressing the Federal Assembly in the Kremlin.
“The U.S. economy has pulled down other world markets. And this crisis has also become a global one.”
"...we will not retreat from the Caucasus," he said.
"The world cannot be ruled from one capital"
Medvedev said that he proposed, "extending the terms of office for the president and the State Duma [the lower house] to six and five years, respectively," Medvedev said in his first state-of-the-nation address to parliament.
"I am convinced that our progress toward freedom and democracy will be successful and unwavering only if the prestige of the president and the State Duma is sufficiently high and based on the practical results of their activities, and if they have enough time to put their pledges into practice," Medvedev said.