The Economist: Phase two
A woman walks past a board listing foreign currency rates against the Russian ruble in Moscow, on Jan. 21.
Dmitry Malikov, a wavy-haired crooner, normally sings schmaltzy love tunes. But his latest clip, which he calls “A New Year’s Appeal to the Ruble”, captures the zeitgeist in Russia. “Sure, it’s a bit tough, but happiness is ahead,” he belts. “Just wait, just wait, don’t fall.” Despite his plea, the ruble is falling: on Jan. 21 it dropped to more than 85 to the dollar, a record low.
