TALLINN - As the economic situation in Russia goes from bad to worse, many in Estonia are wondering what will happen to the Baltic economies. As of Aug. 31, the value of the ruble had dropped 30 percent. Russian Prime Minister designate Viktor Chernomyrdin warned that Russia was on the verge of economic and political collapse. So far, the Estonian economy has avoided any serious crisis, though some have begun to voice concerns over the financial crisis in Russia and the effect it will have in the Baltics. "We are optimistic but it's very hard today," said Peeter Reid, head of Epexim, a sub...
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