Thursday, July 31, 2014


The Power Vertical

Podcast: Economic Turbulence And Russia's Jittery Elite

A woman passes by a sign displaying currency exchange rates in Moscow on June 1.
A woman passes by a sign displaying currency exchange rates in Moscow on June 1.
The price of oil is falling. The ruble is dropping. And fears abound that contagion from the crisis in the eurozone could spread to Russia. Former Finance Minister Aleksei Kudrin says there is a 50 percent chance that the Russian economy could go into recession.
 
What would it mean if an economic crisis compounded Russia's current political turmoil?
 
President Vladimir Putin has already lost the middle class. Would he lose the working classes, as well? Would industrial and agrarian unrest follow?
 
In the latest edition of "The Power Vertical Podcast," I sit down with Kirill Kobrin, managing editor of RFE/RL's Russian Service -- who is back from a trip to Moscow and Nizhny Novgorod -- to discuss these issues.

Listen to or download the podcast below, or subscribe to The Power Vertical Podcast on iTunes.

Power Vertical: Economic Turbulence And Russia's Jittery Elite
Power Vertical: Economic Turbulence And Russia's Jittery Elitei
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Tags: Vladimir Putin,Russian economy,Russian opposition,Power Vertical podcast

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Comment Sorting
Comments
     
by: Ray F. from: Lawrence, KS
June 02, 2012 13:49
Is the situation really as ominous as you portray? The ‘zloradstvo’ or joy at Russia’s impending doom that you express at the beginning of the broadcast is diminished when you come to the conclusion. Even the RFE experts appear to understand that should the Putin government crumble, the powers that could replace it might end up being considerably worse. From an American point of view, a corrupt stability is far superior to the chaos of an aggressive, out-of-control nationalism.

In Response

by: Eugenio from: Vienna
June 03, 2012 10:40
No, RAY, the "ominous situation" in Russia is just one more wishful thinking exercise on the part of the RFE/RL "journalists". The REAL OMINOUS SITUATION is the one that the EU member state SPAIN is currently experiencing: the capital flight from the country in Jan, Feb and March constituted € 97,000,000,000 in the sole month of April it constituted € 66,000,000,000.
In today's major newspaper of the country El País the information is disclosed, according to which the German govt of Frau Merkel is exerting pressure on the govt of Spain to ask to be the next victim of the EU "financial salvation" policy: i.e. to follow the path of GREECE.
And let's not forget that SPAIN - unlike Greece - is the FORTH biggest economy in the Euro-zone and the TWELVTH biggest economy globally! So, you can imagine the consequences of it going bankrup for the global economy yourself. And all this talk about "economic problems" in Russia, China, India, Brasil etc is just to distract the public a bit.
Ref.: http://economia.elpais.com/economia/2012/06/02/actualidad/1338673475_457778.html

About This Blog

The Power Vertical is a blog written especially for Russia wonks and obsessive Kremlin watchers by Brian Whitmore. It covers emerging and developing trends in Russian politics, shining a spotlight on the high-stakes power struggles, machinations, and clashing interests that shape Kremlin policy today. Check out The Power Vertical Facebook page or

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