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Belarus crisis

bnt · 2011-05-25 23:35:20

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…

26-05-2011 12:35am

#1
bnt

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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:
NY Times

Zerohedge

Forbes

Death has this much to be said for it:
You don’t have to get out of bed for it.
Wherever you happen to be
They bring it to you—free.
— Kingsley Amis

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