Tuesday, April 7, 2015

Russia. Finally someone spots the obvious

There's been lots of talk of Russia bailing out Greece and in return Greece vetoing EU sanctions on their new paymaster.

Finally someone spots the flaw in this plan

"There's no doubt the Russians could provide small amounts of financial support, but they're not in a position to give the kind of money Greece needs to stay in the eurozone," says Simon Tilford, deputy director of the Centre for European Reform. "The amounts involved are far beyond the scope of Moscow, whose economy is not much bigger than the Netherlands."

And of course Russia is in a deep recession so it's only going to get worse for the foreseeable future. 

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