Medvedev calls for economy reform

Russian President Dmitry Medvedev has called for profound reform of the economy in his annual state of the nation address.

"Instead of a primitive economy based on raw materials, we shall create a smart economy, producing unique knowledge, new goods and technologies, goods and technologies useful for people," Mr Medvedev said.

"Instead of an archaic society, in which leaders think and decide for everybody, we shall become a society of intelligent, free and responsible people."

"Inefficient enterprises must go through bankruptcy proceedings or leave the market," he said. "We won't be protecting them forever."

Government had to become more transparent, he said, and corruption should be punished. The giant state companies created by his predecessor, Vladimir Putin, had "no future", he said.

In other comments, Mr Medvedev

• Called for a "joint reliable platform" to strengthen Europe's security, saying such a body would have prevented the war with Georgia

• Described the situation in the North Caucasus as Russia's most serious internal problem and pledged to fight "terrorist crimes" there

• Suggested that the number of time zones in Russia - currently 11 - should be reduced

Source

Mr Medvedev is sounding a bit like Peter Joseph, save for the non-monetary aspect. Still, very great sentiments coming from Russia, even if it's just political rhetoric. I'll be keeping an eye on Russia.

K