Russia's Medvedev Takes Swing at US

"Russian President Dmitry Medvedev took a hard swing at the U.S. Thursday, suggesting a basket of strong regional currencies should replace the dollar as the world’s reserve money and saying the Kremlin had spent all it would on economic stimulus, according to a translation of his speech to the Group of 20 nations in London this morning.

The speech came just a day after Medvedev not only warmly embraced President Barack Obama but also fixed a date for a July summit in Moscow and promised to make strong, mutual progress on the first new nuclear arms reduction treaty in at least a decade. The currency issue, first broached last month by Chinese President Hu Jintao, didn’t even come up on Wednesday when Hu and Obama met for the first time. That spared Obama a potentially embarrassing moment, with his stimulus policies pushing U.S. government borrowing to record levels."

This was part of a report taken from the Wall Street Journal's Washington Wire, written by Jonathan Weisman from the G-20.on June 2, 2009. You can view the remainder of the article here. Please scroll to the bottom of the Washington Wire page.