... Just 364 days previously, Russia had defaulted on its debt. - TopicsExpress

... Just 364 days previously, Russia had defaulted on its debt. Salaries for public sector workers and pensions were being paid months late, if at all. Basic infrastructure was collapsing. The countrys most prized assets belonged to a handful of well-connected oligarchs, who ran the country like a private fiefdom. The once-mighty Russian army had lost a war in Chechnya, a place with fewer inhabitants than Russia had soldiers. Three former Warsaw Pact allies had joined Nato, bringing the Western alliance up to Russias borders. Meanwhile, the country was led by Yeltsin, an irascible drunkard in fragile health. The situation was desperate, but Putin had a plan. ...

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