Opinion – Can rating agencies ruin Russian economy? – English pravda.ru – John Gelmini

Dr Alf is correct. The Russian people will be made to bear the brunt of any credit rating agency downgrade, just as people in the UK were when we lost our AAA credit rating courtesy of Moody’s and then the others.

Clearly, the credit rating agencies can damage the Russian economy but this is limited by the fact that the world is now so interconnected that trouble in one place can and does create a knock on effect, as is happening with the Eurozone, which is still failing to deal with its problems.

Russia can make Germany and Italy suffer if it is pressed too hard and can stir up trouble in the Middle East, on which the West would have to spend money on.

In the end, it is not possible to simply isolate one country of that size and power and make it pay for its actions, without any consequences for ourselves in the West.

Life is now a series of messy and sometimes unedifying fudges, not something clear cut where we can deliver a solution wearing spotless “white gloves” aloof and untouched from the consequences of our decisions.

John Gelmini

No Show McCain and the West – English pravda.ru

This is an amazing MUST-READ article by Xavier Lerma which is currently the most popular article in leading Russian newspaper Pravda. Check it out!

via No Show McCain and the West – English pravda.ru.

Personally, I think that Senator McCain was probably right to decline the invitation. We have had Putin‘s views in the NYT and in response McCain’s views in Pravda; it’s perhaps better to let things cool a bit?

For me, this is

English: John McCain official photo portrait.

English: John McCain official photo portrait. (Photo credit: Wikipedia)

an example of  more red-meat article for the Russian people.

Any thoughts?

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