Tagged economy

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Putin’s Only Hope: Keep Calm and Carry On

Russia is experiencing the toughest economic crisis of the Putin presidency. Punished by Western sanctions for its actions in Ukraine, the Russian economy has also suffered a double blow in international markets. The ruble has sharply declined against global currencies. At the same time, the prices for Russia’s primary exports, oil and natural gas, have…

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Can Europe no Longer Afford “La Dolce Vita?”

The European Union gave three of its financial miscreants (Belgium, France, and Italy) Christmas presents early—three extra months to bring their budgets in line with legal requirements. All three governments will exceed the EU’s requirement for budget deficits to not exceed three percent of GDP. The problem, however, is far more serious than a three…

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