Transitions Online: Pain from the Top Down
Other drags on Russian stock prices have been the war in Georgia, which spooked investors, and oil and metal prices that have slumped by 60 percent since July. “Russian markets are falling with record velocity, mainly because of huge dollar loans taken out by Russian banks and companies, and falling prices for raw materials – the principal Russian export commodity,” said Ovanes Oganisian Full Story »
Posted by Peter L. Combs
Much of the Russian economy seems to have unique problems resulting from layers of built in bureacratic corruption slowly being peeled back and not without resistance. Every new layer removed creates a fresh scab that will need removing. The fragility of their freedom at times being frighteningly evident.