Full Russian bank privatisation long way off

Russia's banking system became more open leading up to the banking crisis but the state's share has grown considerably since. Erik Berglöf, chief economist at the European Bank for Reconstruction and Development, explains to Stefan Wagstyl, emerging markets editor, how the EBRD would like to see Russia develop its banking system, how he expects privatisation to come once valuations are more attractive, but doesn't see the state ceding full control for quite some time.