CHRISTMAS WEEKLY COMMENT 20-12-2014
By Barry Edwards
Recollections of 2014
As we approach the winter solstice, the shortest day if the year Christmas is upon us and the New Year beckons. The theme of this final comment for 2014 is to summarise some of the main events that have occurred during the year and discuss their implications.
Internationally there have been some dramatic unexpected events; the main surprise was the sudden annexation of Crimea by Russia which caught everyone off guard leading to the further fighting in Eastern Ukraine which has still to be resolved satisfactorily. As a result of that action the sanctions imposed on Russia and their import restrictions are having a serious economic effect on the country which is not likely to lead to a resolution soon unless Putin starts to remove his troops from Eastern Ukraine. The fall in the oil price is the main problem forcing his hand but it is not easy to predict how he will react.