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27 March 2015

Should Putin Let the Ruble Bottom Out?

MARCH 25, 2015

One can almost excuse Vladimir Putin for trying so hard. This is a man, after all, who famously built his public image in part on feats of derring-do: riding shirtless across Siberia, hang-gliding with migrating birds, and releasing a caged leopard into a natural reserve. So perhaps it isn’t surprising that the Russian president would leap with similar brashness into his country’s economic crisis, precipitated by tumbling global oil prices and Western sanctions. Why not use sheer financial force to wrestle the depreciating ruble back to safety?

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