East Europe leads way to global meltdown


Richard Moore

The sums needed are beyond the limits of the IMF, which has already bailed
out Hungary, Ukraine, Latvia, Belarus, Iceland, and Pakistan – and Turkey
next – and is fast exhausting its own $200bn (€155bn) reserve. We are
nearing the point where the IMF may have to print money for the world, using
arcane powers to issue Special Drawing Rights.

Failure to save East Europe will lead to worldwide meltdown

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point.