Troika Dialog head finds new waves of crisis likely

13.11.2009 15:35
Troika Dialog head finds new waves of crisis likely

YEREVAN, November 13. /ARKA/. Ruben Vardanyan, the chairman of Ameriabank’s directorial board and the head of Troika Dialog Group’s directorial board, doesn’t rule out possibility of new waves of crisis and finds it necessary to be ready for that.

“Any crisis, as change in seasons, is an inevitable phase of world processes,” he said Thursday answering a question ARKA News Agency put to him at a press conference held after the bank home office opening ceremony. “We should be ready for recurrence, since second, third and fourth waves are likely.”

Vardanyan said that, as a rule, transition from socialist economy to capitalist system is accompanied by periodical waves of crises.

“This is not the end of the world. It is important not to do foolish things, lose money, but it necessary to be prepared for repeated fall in oil prices and bank-related problems.”

Vardanyan stressed great importance to preventive measures, such as situation monitoring and limitation of risky operations that can trigger crisis multiplication.
“The worst problem is not only the crisis in itself, but also people’s actions aggravating adverse effect of the crisis,” he said.

“That’s why it is very important to keep problematic or risky operations under a strict control.”

Vardanya also stressed the importance of the bank industry consolidation, mergers and enlargement of the bank capital and the system.

“If so, it would be easier to control things,” he said. -0--

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