When the financial crisis exploded onto the scene last year, nobody could have foreseen how it would affect Russia. Today, after a year working in these new conditions, it has become clear that our economy is very vulnerable.

Another fine autumn day that begins under the grey skies of the English Channel… I’ve recently established contact with a trading company that wants us to help it solve its cash-flow problems. After meeting their boss and talking to colleagues, last week I said yes to their request, immediately arranging a loan.