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Putin speech: President claims West wants to 'chain the bear' as he warns economic recovery could take two years Putin speech: President claims West wants to 'chain the bear' as he warns economic recovery could take two years
(35 minutes later)
Vladimir Putin has said the Russian economic crisis could last two years "in the worst situation", in a Q&A session where he claimed the West "wants to chain the bear". Vladimir Putin has said the Russian economic crisis could last two years "in the worst situation", in a question-and-answer session where he claimed the West "wants to chain the bear".
The Russian president’s question and answer session, which is being televised, is expected to run for three or four hours as he attempts to explain how he will pull the country out of its economic crisis. The Russian president’s news conference, which is being televised, is expected to run for three or four hours.
The Q&A has also seen the President continue the bear metaphor used in a charged action film-style trailer for the event to attack the West.  The Q&A has also seen the President continue the bear metaphor previously used in a charged action film-style trailer for the event.
He said the the economy could recover faster if external factors change for the better. Discussing the dramatic decline of the rouble, he said the the economy could recover faster if external factors change for the better.
Mr Putin said the government and the Central Bank are generally working correctly to deal with the current economic woes, although some of their action was belated.Mr Putin said the government and the Central Bank are generally working correctly to deal with the current economic woes, although some of their action was belated.
"The current situation has been provoked by external factors, but it's worth noting that we haven't done what we planned to do to diversify our economy," Mr Putin said."The current situation has been provoked by external factors, but it's worth noting that we haven't done what we planned to do to diversify our economy," Mr Putin said.
When a journalist asked whether the current situation is a result of what is happening in the annexed Crimea, the President responded with bizarre metaphors about a bear in a wood. He estimated sanctions imposed on Russia accounted for up to 30 per cent of of the rouble's troubles.
Mr Putin said: "Perhaps the Russian bear should eat berries quietly and not chase piglets in the taiga." "If the situation develops unfavourably, we will have to amend our plans. Beyond doubt, we will have to cut some (spending). But a positive turn and emergence from the current situation are inevitable," Mr Putin added.
He suggested that if Russia (the bear) did "quietly eat berries" the West would chain it up and saw off its teeth, The Guardian has reported. "The growth of the global economy will continue and our economy will rebound from the current situation."
When a journalist asked whether the current situation is a result of what is happening in the annexed Crimea, the President responded with metaphors about a bear an a forest.
"Sometimes I think, maybe they'll let the bear eat berries and honey in the forest, maybe they will leave it in peace," said Mr Putin, referring to Russia's famed symbol.
"They will not. Because they will always try to put him on a chain, and as soon as they succeed in doing so they tear out his fangs and his claws."
"Once they've taken out his claws and his fangs, then the bear is no longer necessary. He'll become a stuffed animal," he said.
"The issue is not Crimea, the issue is that we are protecting our sovereignty and our right to exist."
He finished his metaphor by asking: "Do we want our bear to just become a stuffed animal?"He finished his metaphor by asking: "Do we want our bear to just become a stuffed animal?"
Mr Putin also used his conference to insist Moscow wants to restore political unity to Ukraine, while warning Kiev that it must respect all its regions if it wanted peace.Mr Putin also used his conference to insist Moscow wants to restore political unity to Ukraine, while warning Kiev that it must respect all its regions if it wanted peace.
Despite the roubles dramatic decline, opinion polls suggest Putin’s popularity ratings are at an all-time high after the annexation of Crimea from Ukraine in March. An Associated Press-NORC Center for Public Affairs Research poll released Thursday found that about 80 per cent of Russians still support him Russian President Vladimir Putin gestures during his annual news conference in Moscow, Russia, Thursday, Dec. 18, 2014 As questions continued, the President went on to say former oil tycoon Mikhail Khodorkovsky, one of his biggest critics, had the right to engage in politics "as any Russian citizen".
The rouble was more than 2 per cent weaker today , despite central bank action to prop up the currency and around 45 percent down against the dollar this year, hit by Western sanctions over the Ukraine crisis and low oil prices. Putin pardoned Khodorkovsky in a surprise move a year ago and the former oligarch was released after a decade in prison the following month.
Despite the roubles decline, opinion polls suggest Putin’s popularity ratings are at an all-time high after the annexation of Crimea from Ukraine in March. An Associated Press-NORC Center for Public Affairs Research poll released Thursday found that about 80 per cent of Russians still support him
The rouble was more than two per cent weaker today , despite central bank action to prop up the currency and around 45 percent down against the dollar this year, hit by Western sanctions over the Ukraine crisis and low oil prices.
Putin has so far failed to offer any major ideas on how to turn the situation around.Putin has so far failed to offer any major ideas on how to turn the situation around.