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The worst is yet to come for Russia's economy

Monday, December 22, 2014 - 05:50
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After trading at levels of 80 to the US dollar and 100 to the euro, the rouble appears to have stabilised at around 60 and 73, respectively.

Moscow

DEEP recession, skyrocketing prices and a fragile banking system: although the rouble seems to have stabilised after its abysmal drop in the past week, Russia still faces the heavy consequences of the turbulence.

For most Russians, the week ended with relief: after trading