vladimir putin describes us debt as a

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    'parasite' to world economy

    August 02, 2011 8:03AM

    VLADIMIR Putin on Monday accused the United States of acting as a "parasite" on the world economy by accumulating massive debts that threaten the global financial system.

    "The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite," the Russian Prime Minister told a group of pro-Kremlin youth in central Russia.

    He also suggested that Washington may have been flirting with the idea of a default in order to weaken the dollar "and create better conditions for exporting their goods."

    "But they had enough common sense and responsibility" to avoid a default, Russia's former president added.

    Putin has repeatedly criticised the United States' recent foreign exchange policy and its tendency to cover budget deficits with treasury bills and bonds held by sovereign clients such as China and Russia...........................

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