Deripaska Sees Euro-Dollar Parity, Imports Flooding Russia
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Russian billionaire Oleg Deripaska said the euro may fall to parity with the dollar, opening the floodgates to cheap imports into Russia and forcing a ruble devaluation to preserve the country’s competitiveness.
“I’m surprised some still believe in the euro,” Deripaska, 43, owner of a fortune that Forbes estimates at $16.8 billion, said yesterday in an e-mailed reply to questions. “The crisis in Europe is developing fast” and “against that background I don’t rule out that the euro’s rate will equal the dollar’s in about a year and a half.”