Who Will the “Economic Iron Curtain” Harm More, Russia or the West?

On Feb. 25, Moody's and Fitch downgraded Russia's sovereign debt to junk, with Moody's downgraded it again on March 6, to Ca, the second lowest on its scale. A default on Russia's $100 billion foreign debt is now given an 80% probability. Rating agencies are known to be tools of financial warfare, a