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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (452)	8/17/1998 6:04:00 PM
From: baystock	Read Replies (1) \| Respond to of 1301

<<The immediate risk is a banking sector implosion, analysts agreed. "The banking sector could suffer quite severely because of their loans and their positions," said Peter Westin, an economist with the Russia-European Centre for Economic Policy." The vast majority of banks, up to their necks in currency exchange forward contracts and with vaults full of increasingly worthless government debt paper, risk going to the wall. >> I say good riddance to those so called banks that speculated on the ruble-dollar peg. Maybe the Russians will now build a real banking system after the debris from the old one is swept away. But I do feel sorry for the ordinary Russian who has to suffer more in the mean time. Ram