Russia represents 1.1% of Spanish exports

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Market watchers at Afi say that the relationship with Russia in the financial field is more important than the commercial one. The crisis in Russia is acting as a trigger for  generalised punishment of the emerging market, which has led to both a marked depreciation of  currencies and a pronounced increase in emerging countries´ risk premiums,  now at the highest levels seen in a number years.

There is a risk that penalisation of emerging markets will persist, thus compromising growth scenario in those countries. If this happens, the Eurozone’s exports to emerging countries will suffer in two ways: 1) by a reduction in demand and 2) appreciation of the Euro versus the most stressed emerging currencies.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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