Ex-minister Kudrin warns of 'full-fledged crisis' in Russia

[okaawhatever]

(Reuters) - Russia's government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of trouble spreading through the economy.

SNIP

Government officials have tried to minimize the impact of sanctions on the country and its rouble currency, which plunged 80 percent against the dollar last week despite a hike in interest rates to 17 percent. Putin has claimed "external factors" like oil were the key culprit behind the country's "tough times".

But Kudrin -- a darling of investors who is credited with building Russia's $170 billion sovereign wealth funds -- asserted that sanctions over Ukraine, not falling oil prices, were primarily behind the collapse of the rouble, and warned that Russia risked having its debt downgraded to junk status in 2015.

"Today, I can say that we have entered or are entering a real, full-fledged economic crisis. Next year we will feel it clearly," the former minister told a news conference.
"The government has not been quick enough to address the situation ... I am yet to hear ... its clear assessment of the current situation."

Continued at Link:
http://www.reuters.com/article/2014/12/22/us-russia-crisis-idUSKBN0K011920141222

I hope Putin will address this. I don't want to see the Russian people suffer, I think we all just want Putin to stop acting like a Richard.

[NuclearDem]

1. He'll just do what he always does

Blame the West and hope people will blindly follow him.

[tradewinds]

2. PAY ATTENTION

This issue will have a bigger impact on the world in the coming new year than any other.

[Boreal]

3. The US is waging

economic warfare against Russia, along with covert military operations and overt intelligence agency and military control in Kiev. All that after overthrowing an elected government. Typical and reminiscent of of our history in Iran and central and south America.

Putin has addressed all of this many times and done so at length. In the long run, I believe Russia will withstand this fascist assault but it's all very concerning considering the US is gearing up to start WWIII.

[SidDithers]

4. Wow...nt

Sid

[Igel]

6. Indeed.

Perhaps named after the Borei, a newer class of Russian sub.

Or Boreas himself, god of the North Wind, which has brought nothing of use to the South for many a year in that part of the world.


And in the northern hemisphere the tradewinds blow from the NE with pretty much a given direction. Convection cells and Coriolis effect. Not much more that they could do, actually. Pretty much determined by natural law.


Could make some pun on "passat" which is the Russian for "tradewind" and the German car (with the same meaning--Russian borrowed it from German or possibly Dutch), but why bother?

Either way, a lot of wind, mostly from the north.

[upaloopa]

5. Do you read the Kremlin News or something ?

I don't have much of an understanding of events in Russia or Kiev or any other country or group involved.
But I won't be taking ideas from you that is for sure. You have an agenda it is obvious.
I think the people in the Ukraine and Russia are victims of their leader's self serving actions.

[Boreal]

7. Yes, I read EVERYTHING

I can regarding Russia and Ukraine, including the most racist, anti-Russian, pro Nazi Ukrainian material and the neocons. I read ALL sides. You, OTOH, state "I don't have much of an understanding of events in Russia or Kiev or any other country or group involved" but you make an uninformed statement about Putin's "self serving actions". That makes you talking out of your ass.

[upaloopa]

9. Geez what drives you?

Nobody here is as hard core about this as you are.
I have an opinion. Can you handle that?

[NuclearDem]

8. He should start by fighting the fascist assault in his own country.

But since that would entail him resigning, I'm guessing he's just going to blame the West.

[newfie11]

10. Agreed nt