Wednesday 13 December 2017

Want to check an economy's health? Forget the IMF and count Irish pubs

Kiev has been wracked by violence and sparked widespread protests such as this one against President Viktor Yanukovich.
Kiev has been wracked by violence and sparked widespread protests such as this one against President Viktor Yanukovich.
David McWilliams

David McWilliams

Look at the chart for the latest from January 2014 and notice which cities scream crisis.They are Kiev and Istanbul

Now that President Putin has made a fool of the West and proved a point, which is that Russia is the top dog in the region, let me share with you a story about Kiev and how it spawned the Irish Pub Index of financial crises.

Years ago, I found myself in Kiev's Irish pub, Kitty O'Shea's, facing a bit of a dilemma. I was working for a French bank and was charged with explaining what was going on in Russia and Ukraine.

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