BRICS: Greece dominates the agenda in Ufa

BRICS: Greece dominates the agenda in Ufa
By Catherine Hardy with Reuters, AFP
Share this articleComments
Share this articleClose Button
Copy/paste the article video embed link below:Copy to clipboardCopied

Security is tight and preparations are at their peak in the remote Russian city of Ufa, more than a thousand kilometres east of Moscow #Russia's

ADVERTISEMENT

Security is tight and preparations are at their peak in the remote Russian city of Ufa, more than a thousand kilometres east of Moscow

#Russia's #Putin welcomes leaders at #BRICS and #SCO summits amid standoff with West http://t.co/aORsCjjwlx#Ufapic.twitter.com/U8K6f5tIxl

— Federica Giovannetti (@fed_giovannetti) 8 Juillet 2015

Leaders of the world’s developing economies are gathering for a two-day summit for the world’s emerging economies, known to their friends as the BRICS.

#BRICS Business Council meets in #Ufahttp://t.co/LxoUqDTEnapic.twitter.com/iwli92IU8S

— BRICS2015 (@BRICS2015) 8 Juillet 2015

Russian Economy Minister Alexei Ulyukayev told reporters that the subject of aid to Greece is not on the agenda. “However, what is being discussed,” he went on, “is the situation in the Eurozone triggered by the Greek debt problem. The ongoing crisis poses a risk for everyone at this summit.”

The BRICS - or Brazil, Russia,India, China and South Africa, are planning a development bank of their own.They will also sign off a 100-billion dollar currency reserve pool Reducing Western dominance of world financialinstitutions is a primary aim.

South African President Jacob Zuma was the first BRICS leader to arrive. Unity and solidarity are symbolically important for the host Vladimir Putin. Russia is suspended from the G8 over Crimea.

President Zuma arrives in Russia to attend the VII BRICS Summit pic.twitter.com/9V925Ptq48

— PresidencyZA (@PresidencyZA) 7 Juillet 2015

The BRICS account for a fifth of the world’s economic output and 40 percent of its population.

Share this articleComments

You might also like

'What we have achieved in Europe is unique in history,' says Greek PM

Greek novelist and lawyer are the first same-sex couple to wed at Athens city hall

Explosions hit Odesa as Zelenskyy meets with Greek prime minister