1. Russain Currency Crash In August 1997
In August of last year, the Russian government defaulted on $40 billion worth of debt in ruble bonds, rocking the world's economy. ... Many businesses, in light of competition from foreign firms was beginning to show promise, and was putting more focus on meeting the needs of shareholders, customers and employees. ... The Current Conditions According to The Economist article "Money can't buy me love", since defaulting on the $40 billion dollars in bonds last August; the government has fallen even further behind on $1.5 billion due on its dollar debts left over from its days as the So...
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