URGENT: Putin warns against protectionism, state intervention

ZURICH, January 28 (RIA Novosti) - Russia's prime minister warned at the World Economic Forum at Davos on Wednesday against excessive protectionism and state intervention in the economy amid the ongoing financial crisis.

Vladimir Putin said "implicit faith" in an all-powerful state and state intervention in the economy were mistakes.

"A stronger [state] role during a crisis is a natural response to the failure of market controls, but there is a temptation to maximize state involvement in the economy instead of improving these mechanisms," Putin said in his speech at the opening of the economic forum in the Swiss Alpine town.