Russia’s Wounded Economy Is On The Verge Of A Crisis
The Economist
BusinessInsider.com
Nov. 22, 2014
Vladimir Putin is not short of problems, many of his own creation. There is the carnage in eastern Ukraine, where he is continuing to stir things up.
There are his fraught relations with the West, with even Germany turning against him now. There is an Islamist insurgency on his borders and at home there is grumbling among the growing numbers who doubt the wisdom of his Ukraine policy.
But one problem could yet eclipse all these: Russia’s wounded economy could fall into a crisis (see article).
Some of Russia’s ailments are well known. Its oil-fired economy surged upward on rising energy prices; now that oil has tumbled, from an average of almost $110 a barrel in the first half of the year to below $80, Russia is hurting.
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