Russia’s economy relies on oil — 60 percent of gross domestic product — and a deep recession in Europe would drastically slash demand and price, forcing major cuts in government spending and threatening to provoke widespread social protest. For several years, the leadership has been talking urgently about its intentions to diversify beyond natural resources, without actually doing anything.
- Europe Unprepared as Euro Crisis Deepens (theneteconomy.wordpress.com)
- Russia flexes its muscles in Syrian settlement (english.ruvr.ru)
- Russia to back Pakistani draft on Syria monitor mission (nation.com.pk)
- Euro Breakup Precedent Seen When 15 State-Ruble Zone Fell Apart – Bloomberg (bloomberg.com)
- Europe’s Crisis Is Because of Too Much Government, Not the Euro Currency (cato-at-liberty.org)
- European federalism still a bad word in Brussels, Michael Goldfarb, globalpost.com
- Eurozone crisis reveals lack of clear leadership, Vivien A. Schmidt, Boston.com