Data from the Bank for International Settlements shows French banks held about $4.5bn of Russian government bonds as of last year, while US lenders held $3.8bn, Austria’s had $3.2bn and Italians $2.6bn. UK banks had just $520m of exposure.
Because this “default” is fake, investors who take their cues from long-term reality rather than Joe Biden’s attention span will be doing business with Russia as soon as practicable. As the Business Telegraph is forced to report – notwithstanding its dutiful recourse to the dumb ‘Putin humiliated’ angle – Russia’s fiscal strength, trade surpluses and low debt mean investors “may be very willing to rehabilitate Moscow when, or if, it returns to Western markets.”
Sooner or later, the grown-ups have to distract the neo-cons with ice cream while bringing Ukraine to the big people’s table to discuss terms. A post-Putin Russian Federation, cultivated rather than baited by Western Europe and the United States, is far more strategically important – even as a keep ’em guessing semi-friend against China – than Ukraine. America should have managed the war on that two-phase basis all along. The decision to instead ‘send a message’ to Beijing vis-à-vis Taiwan by sandbagging the Ukrainians with money and matériel but no troops has only affirmed China’s view of Western leaders as effete pretenders.
You are mixing up domestic debt with foreign debt. That is called doing a barnaby.
Given Putin’s highly erratic behaviour and his use of his army committing war crimes I think people might just steer clear of Russian bonds. will Putin invade another country because he thinks he is a modern dat peter the great? who knows but given he cannot get the imports he so desperately needs things are not going to plan.
Nope.
Debt to GDP ratio is the reference and in Russia it’s low.
Helpful graph at the link.
Try again.
Compared to who – Joe Biden and Boris Johnson?
Try again.
Will the Americans?
Try again.
Wars rarely go “to plan.” His Ukrainian venture is about 500 times more successful already than the Democrat Party’s beloved Afghanistan War.
Try again.
The west pissed away 30 years where there could have been a mending of fences, instead Russia was still treated as an outright enemy. Don’t reckon they’ll bite anything the western world offers now.
Poor old Non Mentis, as confused (or deliberately deceptive, it is hard to tell) as ever.
you are mixing up up domestic and foreign debt. Yep.
They defaulted on the latter and it was not very high at all. They had to default because of the sanctions!
Invading a country is very erratic behaviour so was his peter the great statement.
It is Russia under the pump not the USA.
Err GW invaded Afghanistan. Had he just concentrated on that he might have succeeded alas he invaded Iraq on very specious grounds.
you do write a lot on subjects you have little clue about as we have seen.
Oh sage blogger with no commenters, please enlighten us with some evidence that proves your assertion. Because at the moment, you appear as economically literate as Katy Gallagher and Anthony Albanese.
Whenever you start using exclamation marks, Homer, it’s always a sign you’ve been humiliated.
Debt to GDP ratio is the reference and in Russia it’s low.
Helpful graph at the link.
Try again.
On the subject of economics, you last read a book on the subject when Billy McMahon was in The Lodge.
Projecting again.
Afghanistan was always the Democrats’ favourite war.
Biden’s evacuation after losing was the worst in American military history.
Buccaneer
Because at the moment, you appear as economically literate as Katy Gallagher and Anthony Albanese.
You are far too flattering to Non Mentis.
debt to GDP ratio is irrelevant as your link actually shows. Do you ever read anything you link?
They defaulted on a very low amount. If the debt to GDP ratio was relevant they would not have defaulted!
Sanctions working very well. No investor will go near Russia because of this and possible new sanctions given Putins erratic behaviour.
all this is very easy to understand so it is a pity you c= do not.
From the link, just to help you because literacy is not your strong point, the author explicitly makes the link you say is not there….
Buccaneer
Non Mentis sees what he wants to see, and ignores what does not support his “narrative”.
They even have a graph for the fantasists trying to resurrect hieroglyphs.