Breakup of the Ruble Area (1991-1993): A Cautionary Tale for the Euro

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia's pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.

The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.

This is an updated version of a slideshow first published in January 2010. Click on the image to view the full updated slideshow

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia’s pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.
The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.
Click on the image to view the full slideshow
- See more at: http://www.economonitor.com/dolanecon/2013/06/12/breakup-of-the-ruble-area-1991-1993-a-cautionary-tale-for-the-euro/#sthash.XlgnucI0.dpuf

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia’s pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.
The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.
Click on the image to view the full slideshow

- See more at: http://www.economonitor.com/dolanecon/2013/06/12/breakup-of-the-ruble-area-1991-1993-a-cautionary-tale-for-the-euro/#sthash.XlgnucI0.dpuf

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia’s pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.
The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.
Click on the image to view the full slideshow

- See more at: http://www.economonitor.com/dolanecon/2013/06/12/breakup-of-the-ruble-area-1991-1993-a-cautionary-tale-for-the-euro/#sthash.XlgnucI0.dpuf

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia’s pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.
The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.
Click on the image to view the full slideshow

- See more at: http://www.economonitor.com/dolanecon/2013/06/12/breakup-of-the-ruble-area-1991-1993-a-cautionary-tale-for-the-euro/#sthash.XlgnucI0.dpuf

Good news: The euro crisis is over. At least that is how French President Francois Hollande sees it, according to remarks he made during his recent trip to Japan. Latvia’s pending entry is another piece of news for the battered currency area. Never mind minor problems like a deepening recession in many countries, unsustainable government debts in others, and faltering export performance in still others.
The good news/bad news situation of the euro should serve to remind us that currency areas do not necessarily last forever. The biggest currency area collapse in recent times was the fifteen-nation ruble area, which existed briefly following the breakup of the Soviet Union. It seems like a good time to update a little slideshow I wrote a few years ago on the breakup of the ruble area and its lessons for the euro.
Click on the image to view the full slideshow

- See more at: http://www.economonitor.com/dolanecon/2013/06/12/breakup-of-the-ruble-area-1991-1993-a-cautionary-tale-for-the-euro/#sthash.XlgnucI0.dpuf