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re: Update pg 23: Russia,IMO, will default on its sovereign debt within six months
Posted on 12/17/14 at 7:54 pm to LSURussian
Posted on 12/17/14 at 7:54 pm to LSURussian
quote:LINK-CNBC, 12/17/14
A key move Russia could and should make to aid in stopping the ruble's free fall is to work with the Ukrainian government to end the conflict there, so that the U.S. and Europe would lift sanctions.
If Russia doesn't come to the table – and soon – then we will likely see a repeat of the 1998 collapse of Russia's economy. This time, it would be worse.
Russia's 1998 default hit investors hard, and that memory is still fresh, so it will be far more difficult this time for Russia to entice foreign capital – no matter where the interest rate is set.
4
Posted on 12/17/14 at 8:08 pm to LSURussian
Perhaps the Russian Central Bank printing up 625 b in Rubles for Rosneft bail out may have helped to deepen the fall.
Bloomberg article from Dec 12th.
Bloomberg
Bloomberg article from Dec 12th.
Bloomberg
Posted on 12/17/14 at 10:58 pm to LSURussian
Is that CNBC link similar to when they said Lehman was solvent? 
Posted on 12/17/14 at 11:44 pm to LSURussian
The Russians are too stubborn to go to the table until it is too late.
Posted on 12/18/14 at 10:44 am to LSURussian
quote:
The ruble's fall will hit hard the earnings of multinationals doing business in Russia. As an example of the losses that multinational corporations could face in Russia, Apple halted all online sales in Russia on Tuesday. The company attempted to keep pace with the ruble's fall, increasing prices by 25 percent in November, but gave up the effort this week as the ruble's fall continued to erode the value of Apple's sales.
Rubble devaluation, possible Yen devaluation, and a slide in the Euro could spell bad times for major US mulitnationals.....
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