Russian default risk tops Iceland as crisis deepens

Russian default risk tops Iceland as crisis deepens

www.tel egraph.co.uk

Russia's financial crisis is escalating with lightning speed as foreigners pull funds from the country and the debt markets start to price a serious risk of sovereign default.
The cost of insuring Russian bonds against bankruptcy rocketed to extreme levels yesterday. Spreads on credit default swaps (CDS) reached 1,123, higher than Iceland's debt before it sought a rescue from the International Monetary Fund.

(visit the link for the full news article)

This is starting to get very serious.

Foreign investors have pulled vast amount of capital out after the continuous crashes and lack of confidence in Russian markets.

Russia could default (again)

The implications could be deadly, especially on geo-political terms and the domestic problems within Russia. Remember, the second largest party in Russia (after the United Russia Party) are the Communists.

Revolution anyone?

www.tel egraph.co.uk
(visit the link for the full news article)

I wonder how many countries are going to default altogether.

Bets are on for Iceland, Russia, USA and Pakistan anyway.

Its looking like the rest of us are also in for a rough ride.

The US won't default, but Russia did it before and will do it again. Isn't it a coincidence that Russia was a naughty child and invaded Georgia, and was awash in rubles from the high price of oil. Ooops...! no more high priced oil, and now I guess we'll just bakrupt them again.

Existing thread here:
www.abovetopsecret.com...

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