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re: Update pg 23: Russia,IMO, will default on its sovereign debt within six months
Posted on 11/10/14 at 12:53 pm to LSURussian
Posted on 11/10/14 at 12:53 pm to LSURussian
quote:I'll bet that some sort of deal to pay off in commodities will be brokered. I can just imagine the fees that the middlemen will command.
There won't be enough rubles owned by borrowers to buy the euros and dollars needed to pay off debts.
2
Posted on 11/10/14 at 1:12 pm to Poodlebrain
LSURussian, what would you say the long term effects of this will be?
Posted on 11/10/14 at 1:45 pm to Poodlebrain
quote:If the borrowers have commodities that can be sold for euros or dollars, why would they have to barter with those commodities?
I'll bet that some sort of deal to pay off in commodities will be brokered.
They would just sell the commodities for the hard currency they need and then pay of their loan with the proceeds.
If they don't have commodities that can be sold for a hard currency, then bartering won't help them.
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