quote:

A decade ago this month, Boris Yeltsin handed the reins of Russia to Vladimir Putin. It was a good day for Russia and the world. Putin is Russia's finest leader since Peter the Great. Western profiles of Putin usually begin with ''ex-KGB agent'' but that is misleading. As a spy in West Germany in the 1980s, Putin witnessed the superiority of the free market. After the 1989 revolutions, Putin moved to St Petersburg to join his friend and former university lecturer, the mayor, Anatoly Sobchak - the Milton Friedman of Russia - and was appointed to attract foreign investment to Russia's second largest city. When Yeltsin defied Soviet tanks in Moscow in 1991, Sobchak performed the same heroic feat in St Petersburg. During those momentous days, when Russia's fate was in the balance, Putin resigned from the KGB to work against the Soviet coup. Putin stayed with free-market Sobchak until 1996, when he moved to Moscow, ended the Chechen revolt and in August 1999 was appointed Yeltsin's fifth prime minister in 17 months. Four months later, Yeltsin resigned as president and, under Russia's constitution, Putin became acting president. He called an election, further entrenching the rule of law, in which 75 per cent of Russians voted, winning a 53 per cent majority in a field of 12 candidates. Four years later he was re-elected with a thumping 71 per cent mandate and has since enjoyed the highest approval rating of any political leader in the democratic world. Putin inherited an economic catastrophe. In 1998, Russia defaulted on its foreign debt and the rouble collapsed. His first public commitment - to double the productive capacity of the Russian economy in 10 years - was met with derision, but has been fulfilled. When Time magazine asked Putin how a lifelong KGB man raised in the Soviet Union become a believer in free markets, he replied: ''One doesn't have to be a particularly bright highbrow to see the obvious, that the market economy has major advantages over an administrative system.'' In the Putin decade, Russia followed the advice of the World Bank and the International Monetary Fund, with average annual economic growth of 7 per cent. Foreign debt has been repaid before it fell due and international bond investors now bemoan the shortage of its public debt. Real wages have grown at about 12 per cent a year. In 2001, Putin achieved the holy grail of progressive reform - a flat income tax of 13 per cent, creating a wave of incentive to work while reducing the appeal of the black market. At the same time, he cut corporate tax from 35 to 24 per cent and gave small businesses a choice - pay 6 per cent of gross revenue in tax or 15 per cent of profits. The former Soviet Union now boasts the lowest taxes in Europe while achieving increases in government revenue. Western critics predicted Putin would use the global financial crisis as a pretext to increase state control, but the reverse has been the case. Russia has embarked on a new round of privatisation, with 5500 state-owned enterprises earmarked for sale. The World Bank reported: "Russia's strong short-term macroeconomic fundamentals make it better prepared than many emerging economies to deal with the crisis . . . prudent fiscal management and substantial financial reserves have protected Russia from deeper consequences of this external shock.'' Its sharemarket more than doubled last year, giving its investors the best returns of any bourse. Putin's Russia has floated its currency and liberalised its current and capital accounts, completing the troika required for full integration into international capital markets. In 2000, Russia's economy was ranked 22nd in the world - now it is seventh. The power of oligarchs diminished under Putin, with the growing counterweight of parliament, the rule of law and a middle class that has exploded from 8 million to 55 million. Those living in poverty fell from 30 per cent to 14 per cent under his watch. Yeltsin gave independence to 15 former Soviet republics and, although Putin is perceived as a tough guy, the empire is not striking back. John McCain wrongly attempted to characterise the Georgia skirmish as a "resurgence of the Soviet bear". South Ossetia was historically part of Georgia but during the Soviet era its population became dominated by ethnic Russians. Today the vast majority of South Osettians want to be part of Russia. Georgians launched an offensive to retake South Ossetia during the Beijing Olympics and Russia resisted. South Ossetia may be a complex story but comparisons with Budapest in 1956 are wrong. While the Soviets repressed all religious faith, Putin happily wears a cross, admits to studying the Bible and has largely restored the prestige of the Russian Orthodox Church. The Russian media may be excessively pro-Putin but only a fraction more or less than the US media have been towards President Barack Obama. It is distressing and disturbing that several Russian journalists have been murdered during Putin's administration. In the absence of persuasive evidence to the contrary, I can only accept Putin's own logic that their deaths have caused him more damage than anything they could have written or spoken. Russia is the largest geographic nation and the ninth most populous. It retains the largest stockpile of weapons of mass destruction. Everyone on Earth has an interest in Russia's stability and prosperity. It seems likely that Putin will stand again for president in 2012, as the constitution permits. In view of his extraordinary record of achievement in office, its hard for me to see how anyone of good faith could regret his continued influence in Russia and the world.

http://www.smh.com.au/opinion/polit...00110-m0n1.html


Kind of nice article, telling some facts, that many other biased western medias prefer to hide.

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The Flash Brothers lover