» 11/12/2014, 00.00
Russia, the Patriarchate launches an “orthodox banking system against the ruble crisis
Archpriest Vsevolod Chaplin calls for greater study of ways to make the Russian economy less independent on "global centers of hostile influence " and create banks that operate with ethical principles, pointing to examples in Islam.
- The head of the Synodal Department for the
relationship between Church and society,
Archpriest Vsevolod Chaplin, is calling
for studies into ways to make the national economy
more independent and create an Orthodox banking system. He call comes at a time
when the Russians are beginning
to feel the effects of sanctions
and counter-sanctions caused by
the crisis in Ukraine. The
decisions of the international community have resulted in higher food prices and a drop in oil
prices: all causing a rapid
devaluation of the ruble.
The Moscow Patriarchate official says that the weakening currency is really
a media "bubble": "They say
that notorious crisis with ruble falling against dollar indicates the situation
in our economy. And who say it?" asked Chaplin, in a meeting with the Russian
Entrepreneurs club, which is part
of the World Russian People's Council which opened on 11 November. "We see that Russia's economy hasn't fallen for
the quarter, as much as the ruble fell. It means that someone tries to evaluate
us not according to the real state of our economy, but according to the rules
of 'information bubble,' which first puffs up than blows off".
The Archpriest condemns economic evaluations on Russia " in compliance with the rules,
under guidance and financed by foreign centers appear to be not quite
correlated with the reality."
" Thus there is a question: why can't we work out
our own criteria of evaluating our economy and its future?", proposed Chaplin. He urges to discuss how Russia can achieve
independence from managerial decisions and evaluations that "were invented
not by us, and against our rules," if it is possible not only to set up an
independent banking system, which enters in independent relations with certain
centers without mediating through foreign centers in New York or Hong Kong,
"but a system based on ethic principles".
The proposal is inspired by the Islamic
financial systems to establish an
"Orthodox banking system, without interest, with a
direct relationship with China, the Muslim world and other growing centers of influence in the world," suggested
the priest, according to which we must
give up currencies and economic
instruments that are "tied to realities
that are hostile to Russia".
The drop in oil prices since June, comes at a delicate
stage for the Russian economy, already
affected by a crisis of credibility at the international level,
which has resulted in the increasing
outflow of capital. There is also the
possibility of a tightening of
sanctions threatened by the EU
and the US, after the elections
of 26 October organized by the separatists in Eastern Ukraine,
backed by Moscow against
the will of the international community. According to recent surveys of the Levada Center, Russians have begun to feel
the negative effects of the embargo
imposed on certain categories of food imports from
countries that have introduced sanctions
against Moscow, but are willing
to put up with it "in
the name of a higher purpose" ,
that is, the defense of the country that
is being threatened by the West.
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