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Russia/China: What's Next?
Motley Fool Money
Is Russian Debt Defaulting on Their Debt?
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The last time russia defaulted on their debt, i believe, was 19 98. While it did not cause a world wide financial panic, it did send some ripples through other markets. The question is not just can they pay, but what are they going to pay with? Cause they can't pay in roubles. They are supposed to pay in dollars. And again, when you talk about now, about 80 % of this debt is also held by russians.
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