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Belarus crisis

  • 25-05-2011 11:35pm
    #1
    bnt
    Registered Users, Registered Users 2 Posts: 13,075 ✭✭✭✭


    Has anyone here been following the economic situation in Belarus? The currency has been collapsing, but the Central Bank had to devalue the Ruble by a further 36% this week. This is decimating savings and salaries, driving the costs of the moost basic goods out of reach of most people.

    There are calls for privatisation of state assets, but many seem to be blaming Moscow, saying they'd sweep in and pick up the country's assets at knock-down prices - especially the valuable oil pipelines. There's also a political angle, with President Lukashenko reportedly considering releasing political prisoners as a condition of a bailout from the EU or IMF.

    It's a sobering story of what can happen if a state doesn't manage its debts effectively: Belarus may be heading for a total social collapse, and soon.

    Links to stories:

    You are the type of what the age is searching for, and what it is afraid it has found. I am so glad that you have never done anything, never carved a statue, or painted a picture, or produced anything outside of yourself! Life has been your art. You have set yourself to music. Your days are your sonnets.

    ―Oscar Wilde predicting Social Media, in The Picture of Dorian Gray



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