German Gref's words in Davos that the state should privatize Sberbank, which he heads, in order to reduce the budget deficit, echoed loudly in Russia. Moreover, Finance Minister Alexei Kudrin, who responded to Gref's remark, did not dismiss the idea of privatization, but only clarified that another state-owned bank, VTB, should be put up for sale first. At first glance, this exchange of remarks looks sensational.