World crisis far from over, it hasn't reached its peak yet - Putin

NOVO-OGAREVO (Moscow Region), February 27 (Itar-Tass) - Russian Prime Minister Vladimir Putin warned that the global financial crisis is far from being over. "We're closely watching the processes running in the world economy - whether good or bad - we depend on it, and have to state that the crisis is far from being over, and has not even reached its peak yet," the prime minister said at a meeting with the leadership of the United Russia party on Friday.

At the same time, the measures taken by developed countries "are not bringing visible results yet. It means such situation may remain for a rather long time," according to Putin.

"The scale of disproportions that accumulated in the world economy is too large, and in order to clear the path to a new upturn, much has to be accomplished together with our partners in international community, and on our own," Putin said.