Yeltsin plans to curb the free market

Pronouncing Communism dead, Boris Yeltsin has vowed to introduce a "new economic order" into Russia in which the state plays a far larger role in curbing the excesses of the free market. Speaking to the upper house of parliament, a robust-looking Mr Yeltsin signalled that he intends to crack down on one of the struts of his political support - Russia's tiny but vastly rich class of new capitalists who cashed in during the first, lawless post-Soviet years.

"Freedom alone is not enough. We need a new economic order," said Mr Yeltsin. "In itself, the market is not a panacea. We need to increase the role of the state in the economy." The president's remarks means that he has in his sights the nation's often shady bankers, who bankrolled his re-election, but with whom his administration has been squabbling over the spoils of privatisation.

The Russian government has been highly ineffectual, hobbled by organised crime, excessive bureaucracy and corruption that reaches from top to bottom. But Mr Yeltsin vowed to toughen up its role.

Start your day with The Independent, sign up for daily news emails
News
peopleNational cycling charity CTC said he 'should have known better'
News
i100
Life and Style
The fashion retailers have said they will now not place any further orders for the slim mannequin
fashion
Arts and Entertainment
Ugne, 32, is a Lithuanian bodybuilder
tvThey include a Lithuanian bodybuilder who believes 'cake is a sin' and the Dalai Lama's personal photographer
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Area Manager - North West - Registered Charity

£31800 - £35400 per annum: Recruitment Genius: This registered charity's missi...

Recruitment Genius: Senior Digital Project Manager

Negotiable: Recruitment Genius: This is an exciting opportunity to join an est...

Recruitment Genius: Field Sales Representative - OTE £55,000

£30000 - £55000 per annum: Recruitment Genius: Why not be in charge of your ow...

Recruitment Genius: Business Operations Manager

£25000 - £30000 per annum: Recruitment Genius: This organisation based in Peac...

Day In a Page

Solved after 200 years: the mysterious deaths of 3,000 soldiers from Napoleon's army

Solved after 200 years

The mysterious deaths of 3,000 soldiers from Napoleon's army
Every regional power has betrayed the Kurds so Turkish bombing is no surprise

Robert Fisk on the Turkey conflict

Every regional power has betrayed the Kurds so Turkish bombing is no surprise
Investigation into wreck of unidentified submarine found off the coast of Sweden

Sunken sub

Investigation underway into wreck of an unidentified submarine found off the coast of Sweden
Instagram and Facebook have 'totally changed' the way people buy clothes

Age of the selfie

Instagram and Facebook have 'totally changed' the way people buy clothes
Not so square: How BBC's Bloomsbury saga is sexing up the period drama

Not so square

How Virginia Woolf saga is sexing up the BBC period drama
Rio Olympics 2016: The seven teenagers still carrying a torch for our Games hopes

Still carrying the torch

The seven teenagers given our Olympic hopes
The West likes to think that 'civilisation' will defeat Isis, but history suggests otherwise

The West likes to think that 'civilisation' will defeat Isis...

...but history suggests otherwise
The bald truth: How one author's thinning hair made him a Wayne Rooney sympathiser

The bald truth

How thinning hair made me a Wayne Rooney sympathiser
Froome wins second Tour de France after triumphant ride into Paris with Team Sky

Tour de France 2015

Froome rides into Paris to win historic second Tour
Fifteen years ago, Concorde crashed, and a dream died. Today, the desire to travel faster than the speed of sound is growing once again

A new beginning for supersonic flight?

Concorde's successors are in the works 15 years on from the Paris crash
I would never quit Labour, says Liz Kendall

I would never quit party, says Liz Kendall

Latest on the Labour leadership contest
Froome seals second Tour de France victory

Never mind Pinot, it’s bubbly for Froome

Second Tour de France victory all but sealed
Oh really? How the 'lowest form of wit' makes people brighter and more creative

The uses of sarcasm

'Lowest form of wit' actually makes people brighter and more creative
A magazine editor with no vanity, and lots of flair

No vanity, but lots of flair

A tribute to the magazine editor Ingrid Sischy
Foraging: How the British rediscovered their taste for chasing after wild food

In praise of foraging

How the British rediscovered their taste for wild food