A default would be one of the clearest signals that the sanctions are having their intended effect on the Russian economy. But its impact on Russia’s ability to wage war in Ukraine may be another story.
Tag: default
DETROIT NEWS, NYT (USA), LE MONDE (France), O GLOBO (Brazil) Worldcrunch DETROIT – From Kalamazoo, Michigan to Paris, France, news of Detroit’s bankruptcy — the largest municipal financial default filing in American history — was making headlines far and wide and close to home on Friday. “Detroit, the cradle of America’s automobile industry and once […]
BLOOMBERG, AP Worldcrunch TOKYO – The global auto industry faces another major recall crisis after defective airbags have forced Japanese carmakers Toyota, Honda, Mazda and Nissan Motor to call back more than 3 million vehicles. A spokesman for Japanese auto parts maker Takata Corp revealed the airbag malfunction on Thursday, blaming it on “human errors.” […]
LES ECHOS (France) Worldcrunch A study published this week by two economists for the German Bertelsmann Foundation says that if Greece defaults on its debts and leaves the euro zone, it would cost the world’s major economies 17.8 trillion euros by 2020, and cause a severe worldwide depression, reports French business newspaper Les Echos. Greece’s […]