Bloomberg, Dec. 15th, 2014
Russia sees GDP down at least -4.5% with oil at $60
Brent Crude - currently in free-fall - ended the day at $60. One would think that a legitimate "stress test" wouldn't use today's price as the "worst case" scenario.
Meanwhile...
Russia just raised their key interest rate by 7% to 17%.
I'm sure that raising the interest rate by 70% on a relative basis will help the economy.
And...
Eastern Europe: Leading the way down another -9.5% today
