Magis Global –

December 12, 2011

Crisis, How It Was And The Outcome

Category: General – Tags: – Joan – 6:26 pm

The development of the global financial crisis over the past two months have shown a huge impact of shifts in global markets on the economy of Russia. The crisis has shaken the confidence of the Kremlin leaders, who believed that Russia would not just recovering from the devastation and chaos of post-Soviet years, but still achieved something approaching economic invulnerability. At the same time, the crisis showed the class character of the new Russian government. Leading bureaucratic and oligarchic clans that control the key economic sectors have demonstrated their determination to allocate state resources to maintain themselves, without social consequences for tens of million workers. No substantial assistance is not available to the general public, on whose shoulders lay the burden of the crisis. The initial reaction of the Kremlin's growing financial crisis characterized by nationalist self-satisfaction and complacency.

The authorities proceeded from the fact that, thanks to huge profits gained from high prices for Russian oil, gas and other export raw materials, Russia has not threatens the financial crisis that was caused by the collapse of the housing and credit bubbles in the U.S.. Most recently, in September, statements were made that because of financial turmoil, Russia will be able to significantly strengthen its role in global economy. Russia will serve as a 'safe haven' for global investors, and offer themselves as the best of the world's leading financial centers. Even when the Russian stock market has lost the fifth of its value on September 16-17, showed no signs of serious concern on the part of Russian authorities.

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