This issue of Problems of Economic Transition presents articles dealing with a variety of problems in the contemporary financial system of the Russian Federation.' Russia's level of financial development lags behind that of the advanced market economies and there is some concern that the current European crisis may set back Russia's progress toward a more competitive banking system. It is important for the Russian authorities to maintain financial stability in the face of the current sovereign-debt troubles in the Eurozone and their consequences for the financial systems of many countries around the globe.
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