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...central bank's reserves have dwindled to about $14 billion, and the Kremlin's great fear is that it will have to devalue the ruble. That would cruelly increase prices for ordinary Russian citizens, cause social and political upheaval and dash Yeltsin's hopes for his legacy as a reformer. At the Kremlin on Friday, he vowed there would be no devaluation and issued a fusillade of decrees on how to get tough with tax dodgers. He fired the chief tax collector and replaced him with Boris Fyodorov, a former Finance Minister and a true reformer. Yeltsin also announced plans...

Author: /time Magazine | Title: Economic Meltdown | 6/8/1998 | See Source »

...Kremlin may be strapped for cash, but the space program remains a priority. "It's the one place Russia still believes it's an equal player," says Meier. "And you have to admit, they achieved miracles in space -- a lot more than they ever did on the ground." Which, of course, is exactly where the crisis-ridden country needs a miracle right...

Author: /time Magazine | Title: Russia Gets Cosmic Bailout | 5/29/1998 | See Source »

...cult of diversity, affirmative action, conspicuous compassion and radical participatory democracy. I wrote in favor of taboo notions, such as a Promise Keepers, student apathy, honor and (most unforgivably) conservativism. Moreover, I wrote these things in the flagship publication of what not too long ago was known commonly as "Kremlin on the Charles." No, I could not have sought or expected popularity and its absence concerns...

Author: By Thomas B. Cotton, | Title: Coda | 5/6/1998 | See Source »

...Solidarity would not die, and Walesa remained its symbol. He was awarded the Nobel Peace Prize in 1983. With support from the Pope and the U.S., he and his colleagues in the underground leadership of Solidarity kept the flame alight, until the advent of Mikhail Gorbachev in the Kremlin brought new hope. In 1988 there was another occupation strike in the Lenin Shipyard in Gdansk, which Walesa again joined--though this time as the grand old man among younger workers. A few months later, the Polish communists entered into negotiations with Solidarity, at the first Round Table of 1989. Walesa...

Author: /time Magazine | Title: Lech Walesa | 4/13/1998 | See Source »

...treated as you and I would be treated if we had disposed of 40,000 nuclear missiles. And anyway, Gorbachev was a polemical swinger right to the end. The ideological imagination was hardly dead. The following Sunday, no doubt expressing the new Soviet line, chief press spokesman for the Kremlin Gennadi Gerasimov appeared with Mike Wallace on 60 Minutes. It's true, he said, that communism is evolving, but so is Christianity. Christian values and communist values--"especially early Christian values"--are the same...

Author: /time Magazine | Title: Pope John Paul II | 4/13/1998 | See Source »

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