Monday, December 22, 2014

Russia's economy is on the verge of collapse !

Putin has worked for the past 15 years to stabilize the Russian economy, but now it seems to be on the verge of collapse as investors are losing hope and moving their money elsewhere, even to Japan!
In order to stem the tide, the Central Bank of Russia has raised interest rates.  Is this going to be enough?

Read this webpage and be prepared to discuss it with your English teacher!

extraordinary development
held mostly steady
sharp interest rate hike
deep recession
worsened living standards
inevitably rise
 imported goods
financial meltdown
defaulted on debts
wiped out
 buoyed by 
 economic stability
easing of sanctions
 constructive choices

What is this article about in general?
What does raising the interest rate do?
Why did the Central Russian Bank raise the interest rates?
What is the problem when the dollar - ruble exchange rate changes too fast?
Is Putin still popular in Russia right now?
What is he doing to avert the crisis?

Lesson Plan by Rachael Alice Orbach - Professional English Teacher

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