Markets See A Putin Win

Russia has a history of accepting “economic hardships unimaginable to Western observers in pursuit of geopolitical goals”. It is “pure wishful thinking” to imagine that economic sanctions will force Russia out of Crimea now. The West has “no intermediate option between accepting the Russian invasion and full-scale war”. The current stand-off evokes the 1962 Cuba missile crisis — but this time, Russia wins (960 words)

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