Bachelet calls for "a better kind of government"

MOSCOW.- "Unregulated markets not only fail, they eventually end up turning to the State to resolve the disasters they cause, but with the tax payers' money. This is what many have already critiqued as the unacceptable pretense of large players responsible for the crisis; they privatize earnings, but socialize losses".

These words were spoken by President Michelle Bachelet during a graduate-level class she gave for students of the University of International Affairs in Moscow during her official visit to Russia.

During the event, the dean of the University, Anatoly Torkunov, introduced the President as a woman of the political left who understands the importance of the free market and private property.

"The crisis has clearly demonstrated that to have strong and healthy markets, countries and the world need to depend on strong governments and there is always debate over this (...) but what is clear is that a better kind of government is needed", stated the President.

In response to a question posed by one of the students, the President also commented on the need to reform the United Nations, eliminating the right to veto and obtaining better representation for the so-called emerging powers.