The Davos meeting is not looking for world crisis solutions but plotting more controls, ‘banksterism’ and power elite benefits, says economic journalist Lew Rockwell. They are going to tax and rip off their own people to even greater extent, he added.
The risky Russian market is driving out many, but the investors ready to tough it out believe they’ll reap big benefits, as the downturn is cyclical. RT spoke with several participants at this year's Gaidar Forum, one of Russia's big economic conferences.
The Russian government and Central Bank of Russia (CBR) should take more concrete measures to avoid another debt downgrade by international rating agencies, which risks dragging the country into ‘junk’ status, says former finance minister Aleksey Kudrin.
Armenian citizens working in Russia are to be given equal labor rights and social security as Russians following Armenia becoming a full member of the Eurasian Economic Union (EEU) earlier this month, the Russian government has said.
The international ratings agency has knocked Russia’s credit rating down a peg, while warning that ‘growth may not return until 2017,’ as the national economy struggles amid sanctions and tumbling oil prices.
France intends to take a lead in de-escalating the confrontation with Russia as a face-saving measure while the EU is facing big economic challenges, John Laughland, Director of studies at the Institute of Democracy and Cooperation in Paris, told RT.
China and Russia have effectively switched to domestic currencies in trading using financial tools as swaps and forwards, as they seek to reduce the influence of the US dollar and foreign exchange risks.
The ruble has seen a full week of recovery after its drastic 20 percent drop on December 16 dubbed as ‘Black Tuesaday.’ This was triggered by the call from the Russian government for businessmen to sell currency earnings.