Russian economy: Escaping new recession?

­Sergey Guriev – Rector, New Economic School

The economic turmoil in Europe has sent global markets spiralling downwards, and experts say the second recession is just about to strike. Russia is facing financial turbulence too, with stocks sliding and the rouble losing ground against the dollar and euro. Yet officials insist it is all quite natural, and there is no need to panic. So is the second recession just a scary story or should we really worry about our savings? We put the question to one of Russia’s most prominent economists, rector of the New Economic School, Sergey Guriev.