The Bolsheviks to Putin: A History of Russian Defaults - New Delhi Times - India Only International Newspaper

In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks' repudiation of Russia's external debt: "Gentlemen, you were warned." He reminded them that the dismissal of Tsarist-era debt had been a key manifesto of the failed uprising in 1905. More than a century later, Russia stands on the brink of another default…

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