From FT.com
''While 12 years in power may have taken a toll on his sense of perspective, Vladimir Putin will be back in the driver’s seat of the Kremlin for the third time, after his presidential inauguration on Monday. A much-reduced Medvedev will step down, to become prime minister. Hopes once harboured – by officials inside the Obama administration, Russian democrats, and even some of the country’s richest men – that Russia could take a course of more liberal reforms, under a continuation of the Medvedev presidency, now seem, like the protests of the winter, to have melted away with the snow.''
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