The 'Russian miracle,' that of always avoiding catastrophes at the last moment, remains, however, fragile--more and more fragile, it said.
It has been said that the ability to avoid catastrophes at the last minute, known as "the Russian miracle" is extremely fragile.
According to economic logic, such countries in the long run have no business adopting the currency of a faraway country, if they can put their inflationary histories behind them.