The trading bloc stands to lose about 1 trillion euros ($1.3 trillion), an estimate he says includes the possible bankruptcy of several European banks and companies toppled after the cutoff in financial and economic ties. The fallout will cost 250 billion euros for Germany alone while pushing the three Baltic states to the brink of an “economic catastrophe,” he said. Lithuania and Latvia will lose the equivalent of half of their entire economic output, and the cost for Estonia will reach 50 percent more than its gross domestic product, Glazyev said. zerohedge/news/2014-08-08/how-putins-advisor-sees-ukraine-crisis-playing-out
Posted on: Sat, 09 Aug 2014 13:25:59 +0000
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