American billionaire George Soros believes that the probability of default in the Russian Federation imposed due West of punishment. In his article for the February issue of the magazine New York Review of Books financier emphasizes that punishment, coupled with falling oil prices have caused much more damage to the Russian economy than the one that was expecting US and Europe, and led to the financial crisis, comparable to the 1998 crisis." However, in contrast to 1998, most of this debt is in the private sector. Would not be surprising if this crisis along the way will lead to default in the Russian Federation ", - writes Soros. The Russian default may cause a downturn in the global financial system, particularly, according to Soros, vulnerable Euro area. However, punishment Soros considers " necessary evil "." Europe needs to Wake up and realize that is placed under the Russian attack. Assisting Ukraine should be treated as expenditure of the European Union on defense, " says 84-year-old financier.
sections: Politics |