________
________
________
from CNBC
TV Network in Englewood Cliffs, NJ
The move on Monday evening prevents the Kremlin from paying holders of its sovereign debt with the more than $600 million of dollar reserves held with U.S. financial institutions. And it’s aimed at forcing Russia to either use up more of its own stockpile of dollar reserves or accept a first debt default in decades. Moscow failing to service its debt would mark Russia’s first sovereign default since 1998 and the first sovereign default on foreign currency debt since the Bolshevik Revolution in 1918.
from The Spokesman-Review
Newspaper in Spokane, Washington
________
________
No comments:
Post a Comment