Is Russia Two Years Away From An Economic Meltdown?

A man reads a newspaper under signs with currency exchange rates in Moscow, November 28, 2013. Credit: Reuters/Maxim Shemetov

Russia ‘Two Years From Meltdown’ As Economic Distress Grows -- The Australian/The Times

RUSSIA’S mounting economic crisis is likely to pose an existential threat to President Vladimir Putin’s leadership within two years, one of the country’s most respected economists said ­yesterday.

The economic distress signals are becoming clearer and ­although western sanctions are not the only cause of Russia’s problems, they make escape from the downturn far more difficult.

Ordinary Russians, who have overwhelmingly supported Mr Putin’s annexation of Crimea in March and his refusal to buckle in the face of sanctions imposed as a result, are feeling a growing impact in their daily lives, and the plummeting price of oil has squeezed government receipts.

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My Comment: Russia has seen far worse .... it will survive.