Wednesday, December 12, 2007

Our Allies Share Our Love Of Democracy And Freedom

Vladimir Putin's nominated successor, Dmitry Medvedev, said that if elected president in March, he'll appoint Putin as his prime minister, giving the current leader a platform to retain power after his term ends.

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Putin, who has to step down in May after serving two consecutive four-year terms, said yesterday that he supports Medvedev, 42, as his successor. The Russian leader has long said he'll retain a guiding role once out of the Kremlin and today's announcement gives him the option of staying at the heart of decision-making.

``This is the most simple, elegant and legal way for Putin to maintain influence,'' said James Fenkner, who manages $100 million of assets at Moscow-based Red Star Asset Management. ``Continuity is essential. Having a vacuum or infighting in the coming years could damage Russia's economy.''

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