Oct 7: MIKHAIL SHAMOLIN on the credit crunch

Mikhail Shamolin, president and chief executive of MTS, the Russian mobile operator, tells Richard Milne that there is a lot more psychology and panic involved in the current situation than the real economic underlying factors demand. Mr Shamolin says that the crisis is serious both in Russia and around the world but he argues that once people regain a bit of confidence, it will soon be over.