Russia’s vulnerability to a Eurozone crash

Overview

Given the sadly plausible scenario that there is much worse still to come out of the Eurozone debacle, the question begging to be asked is how the impact on Russia would compare to that of the 2008 global financial crash. The answer must lie in an analysis of financial linkages, which – rather than oil price weakness – explain the depth of the recession in 2009. The market turbulence since August 2011 has already provided important evidence on the state of Russia’s monetary and...