It is almost a quandary not to classify a nation such as Russia, with enough military might to stand nose to nose with almost any nation as anything other than an economic giant. Yet the reality, even with its huge natural resources and relatively resourceful technological know-how, is that it demonstrates all the attributes of developing nations in most of its economic and social aspects. It clearly trails the US and most developed nations in the Gross National Income index, and it is placed at a distant tenth with an estimate of about $1.47 trillion in GDP in 2010. Understandably, Russia’s current place is defined by its continuing transition from the legacies of the Soviet state. It finds itself in a delicate position of managing its
potentials and resources with relatively infant experience in a market based economy with dynamics that are dependent on global influences. There are political… Continue reading →
Tag: European Union
A Changing Russia?
What you don’t know about the Greek financial crisis
News about the financial situation in Greece has dominated headlines all over the world. The burning question on everyone’s mind right now is whether or not the Greek parliament wants to take on the aid offered by the IMF or declare nation-wide bankruptcy. Verdict aside, what should really be on your mind right now is how all of this began in the first place. Let me do the honors by quoting a famous, or should I say infamous controversial figure.
“The Greek people are anarchic and difficult to tame. For this reason we must strike deep into their cultural roots: Perhaps then we can force them to conform. I mean, of course, to strike at their language, their religion, their cultural and historical reserves, so that we can neutralize their ability to develop, to distinguish themselves, or to prevail; thereby removing them as an obstacle to our strategically vital plans… Continue reading →