Will Russia bail Europe out?

With reserves of $386 billion, can Russia bail Europe out of its mess?

With reserves of $386 billion, can Russia bail Europe out of its mess?
With reserves of $386 billion, can Russia bail Europe out of its mess?

This is the fourth part in a five part series. For the first three, click here.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he hawk-eyed forex specialist George Soros14 always felt that Russia was EU’s enemy.  Yet he is now suggesting that the EU should cooperate with Russia and the latter should offer Europe a Marshall Plan.  He finds that Russia’s forex reserves, SDRs, IMF contributions, and monetary gold amount to $386.3 billion, enough for two years, as of January 15, 2016.  Russia’s rival, the US, on the other hand, is currently $19.5 trillion in debt and is still printing money, to keep the dollar strong.15 However, the unemployment rate in the US fell from over 10% when Obama took over the White House, to less than the frictional rate of 5%, quite an achievement. With such a strong buffer, should Russia bail Europe out of its current mess?

The implications of Russia’s relative strength against the West is that Soros has set the record straight, and wants cooperation with Russia.  But Russia’s Foreign Minister Sergey Lavrov “excludes business as usual with the West.”  He wants “non-interference in each other’s internal affairs,” and “respect for fundamental rights of each side.”  The US wants, on the other hand, to punish Russia for its independent policy.16

Japan, too, wants to cooperate with Russia.  As chairman of the latest G7 meeting PM Shinzo Abe wants Russia to rejoin the G7 so that he could discuss the return of the Kuril Islands.  Abe recognized that Russia as a world power is making decisive decisions in the Central Asia and MENA crisis.17

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]E[/dropcap]gypt is another country that wants Russia to come closer to Saudi Arabia.  Russian Industry and Trade Minister Denis Manturov led a delegation of representatives of 60 companies to Egypt on January 31, 2016.  Egypt’s El Sisi wants to rekindle the kind of close partnership that existed when Gamal Nasser was in power.  Egypt, with its trained officer corps and modern military equipment, is seen as an asset to Saudi Arabia.18   Russia’s leadership is being increasingly sought in the emerging world.

American Professor Paul Craig Roberts who generally steers clear of propaganda feels that the neo-cons in Congress can still take the country to World War III.  The neo-cons have lost influence in the White House, but he argues, they are strong enough to work independently and to attack Syria and Russia independently.  A World War III is possible.19     Ukraine’s President used to talk of a major war against Russia, but his new phraseology is “open war.”20

The notion of an imminent world war is doubtful since the Syrian war is mainly conventional; if it extends to Europe, it will be nuclear, and “Russia and the US can destroy Planet Earth five or ten times in a row.  One time is enough for the all people,” said military specialist Vladimir Kozin at the Russian Institute of Strategic Studies.21    Europe will suffer the most devastation, while the US will not escape damage as the Russians have opened a South American front.  Moreover, in some aspects of warfare like mobile and under-water missiles, Russia dominates the US.


  1. Michael Hudson, “The IMF changes its rules to isolate China and Russia,” counterpunch.org, December 18, 2015.
  2. “Putin won’t dump Russians living abroad,” pravda.ru, November 6, 2015.
  3. Paul Goble, “Moscow may have to open ‘Third Front’ in Central Asia to prevent refugee influx into Russian cities,” atimes.com, January 19, 2016, also in Eurasia.com.
  4. Vasudevan Sridharun, “NATO dispatches AWACs planes and troops to protect Turkish airspace over Russia spat,” ibtimes.co.uk, January 1, 2016.
  5. Sridharun, “Russia sees threats from NATO and coloured revolutions,” ibtimes.co.uk, January 1, 2016.
  6. “US Senator Rand Paul suggests labeling Russia as a ‘highly dangerous country,’” pravda.ru, 19.1.2016.
  7. Nick Enoch, “Putin sees me as a threat: Russia’s former wealthiest man says he may seek asylum in Britain after he is arrested in absentia in Moscow,” dailymail.co.uk, December 24, 2016.
  8. “Arrested oil tycoon passed shares to banker Rothschild,” the washingtontimes.com, 11-3-3?
  9. Leah Maclaren, “Poisoned diplomacy,” MacLean’s Magazine, February 8, 2016, 35.
  10. NATO intimidates its members with Russian nuclear strikes,” pravda.ru, 4.2.2016.
  11. Peter Spence, “Russian economy in turmoil as Putin is battered by falling oil price and sanctions,” telegraph.co.uk, January 25, 2016.
  12. Reuters, “Russia allots $1.3 billion for real recovery,” arabnews.com, January 24, 2016.
  13. Said Gafurov, “Russia’s budget 2016: Handling the crisis, pravda.ru, 18.1.2016.
  14. “Soros: Russia’s international reserves enough for two years,” pravda.ru, 22.1.2016.
  15. Donald Trump, current leader of the Republican Presidential race, 2016.
  16. “Russia’s FM Lavrov excludes ‘business as usual’ with the West,” pravda.ru, 26.1.2016.
  17. “Japan’s Abe: ‘We need Russia for global peace.’” Themoscowtimes.com, 18.1.2016.
  18. “Egypt wants to bring Russia and Saudi Arabia closer,” pravda.ru, 27.1.2016.
  19. Paul Craig Roberts, “About war in Syria and World War III, pravda.ru, 28.1.2016.
  20. “Poroshenko speaks about threat of open war with Russia,” pravda.ru, 3.2.2016.
  21. Kozin was interviewed by Pravda editor Inna Novikova.
  22. “Ten regiments of Russian Strategic Missile Forces on high alert,” pravda.ru, 26.1.2016.
  23. “Putin prepares bitter and hysterical missile surprise to ‘American partners,’” pravda.ru, 16.1.2015.
  24. Lyuba Lulko, “Russian armed forces returning to Latin America,” pravda.ru, 27.2.2010.
  25. Frank Nelson, “Vladimir Putin’s invisible empire,” telegraph.co.uk, 22.                  2016.
  26. James B. MacGuffin, “Soros – Doctor Evil,” pravda.ru, 19.1.2016.

1. Text in Blue points to additional data on the topic.

Henry D'Souza is a prolific author who has written over 60 papers and 4 books, of which 2 books, 1 booklet and 28 papers were published. He is a distinguished sportsman, having represented Kenya in Field Hockey and also played tennis for the country.

Henry currently resides in Canada.


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