Word: rublee
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In your pocket would be the ruble equivalent of 13 cents--all the money you'd have. That wouldn't be enough to pay the rent, put food on the table for the family or even buy a lunch of steamed cabbage at the factory.
PROPOSED earlier this month, the $24 billion aid package for Russia--including an $11 billion contribution from the U.S.--is a step in the right direction. It will provide import credits, humanitarian aid, International Monetary Fund and World Bank loans, debt rescheduling and ruble stabilization.
For those making history, however, the action is not always attractive. Many ruble-bound Russians, faced with hyperinflation, must sell prized possessions in order to feed their families. Some are even beginning to look back on their benighted communist past with a bitter nostalgia. A young Russian engineer, now unemployed...
Strauss favors -- as does, sotto voce, the Administration -- early admission of Russia to the International Monetary Fund, creation of a ruble- stabilization fund and additional food and medical supplies in time for next winter's depredations, which he predicts will be much worse than this winter's. "The West must...
Israeli Jews like to tell an old fable of a Russian Jew who goes to his rabbi in search of a job. The rabbi instructs the man to stand at the village gate each morning and wait there to greet the Messiah when he comes. For this, the rabbi offers...