Summary: The collapse in oil prices is problematic for many Middle Eastern countries, which rely on crude exports for substantial portions of budget revenue. Any recession in these economies could inflame civil unrest, which could be an ongoing source of angst for financial markets. In Russia, the economic outlook is dire and the rouble has fallen steeply, with default now a high risk.
Key take-out: I think any financial crisis in Russia could spread to the west. But I’m not worried about the prospects of a Greek exit from the Eurozone.
Key beneficiaries: General investors. Category: Economy.