The rapid devaluation of the Russian rouble is dangerous for the European economy, German economist Thorsten Polleit writes in his article in Handelsblatt.
According to the scholar, if Russian banks aren't able to pay back their debts to foreign bodies, US and EU investors will incur serious losses. As result, it will affect ordinary buyers of banking services, he stresses.
It means that the collapse of the rouble may lead to a major banking crisis, the author believes.
