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The great debate on Russia’s economic policy

Comments by Central Bank Chair Elvira Nabiullina confirm Russia will maintain tight monetary policy as it seeks to rein in inflation and to move from an economic model based on consumption towards one focused on investment, manufacturing and export.

Alexander Mercouris

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With annualised inflation in Russia falling to 6.9% at the end of August, and with Russia reporting zero inflation in the first weeks of September, the strong indications are that the Russian Central Bank is preparing to cut interest rates by 0.5% to 10% at its next meeting on Friday 16th September 2016.

The Central Bank has indicated that it intends for the time being to keep its key rate 3% above the annualised rate of inflation.  Since the annualised rate of inflation is now roughly 7%, following the logic of the Central Bank’s own policy that should mean a cut in interest rates on Friday to 10%

Central Bank Chair Nabiullina calls interest rates of 10% against an annualised inflation rate of inflation of 6.9% and an underlying rate of inflation which may be as low as 5.5% a “moderately tight monetary policy”. 

In reality this “moderately tight monetary policy” is leaving Russia with by far the highest real interest rates of any major economy in the world.  To be clear, such a “moderately tight monetary policy” were it attempted in any Western economy or in China, would cause an extremely severe recession, one far more severe than the one Russia has just been through.  

The reason Russia has managed to avoid such a severe recession is not because the high real interest rates are not for real.  It is because its debt levels are so much lower than in the West and in China that it can live with interest rates they would find unendurable.  As it is these very high real interest rates are depressing economic growth, which is why the Central Bank, in the absence of any softening of policy, forecasts that growth in the medium term will remain low.

Nabiullina on Friday at an economic conference in Sochi provided an explanation for her policy. She made it clear that she has no intention of softening her policy. Rather she intends to keep interest rates 3% above inflation for the indefinite future in order to purge the Russian economy of its long running inflation problem, one which extends back to the 1960s (though it was masked during the Soviet period by the Soviet practice of fixing prices), and which caused Russia to experience double-digit inflation continuously throughout the 1990s and 2000s, with a sustained fall in inflation to single figures only taking place since roughly 2010.

Nabiullina has made it clear that this is all part of a long term policy of moving the Russian economy away from a model based on consumption towards one centred on investment and manufacturing.   The Central Bank explained its thinking back in November 2015 in the Guidelines it published to explain its monetary policy

“Interest rates on long-term contracts always imply inflation expectations. The Bank of Russia proceeds from the fact that as the inflation and inflation expectations decline, long term rates on loans will go down boosting the economic growth. Amid low inflation expectations long-term rates will persistently develop at the low level. It is an important advantage of the inflation targeting, under which the Bank of Russia implements the monetary policy.”

In the same Guidelines the Central Bank also made clear that it sees low inflation as the means of achieving long-term stability for the rouble

“……ensuring the stability of the national currency does not mean fixing its exchange rate against other currencies at a specific level, but rather achieving stability by maintaining the purchasing power of the ruble, i.e. by ensuring price stability.”

This is a policy framework which would be immediately familiar to the Bundesbank, from whom it appears to have been copied.  The idea is that the combination of low inflation, low long term rates of interest, and positive real interest rates, will encourage long term saving and investment, increasing over time productivity and growth. 

Until that comes the Central Bank is prepared to accept a trade-off of lower growth because of the tight monetary policy to reduce inflation in the short term.  This is the policy framework that I heard Kudrin and Nabiullina discuss at SPIEF. 

A further aspect of the policy is that in order to increase competitiveness and hold down imports the current policy also seeks to bear down on consumption by keeping the budget out of deficit.  Russia in fact already runs a very tight budget, with the country’s federal budget deficit as it exits recession no more than 2.9% of GDP in the first 8 months of the year – a fact which points to a budget surplus once the economy achieves sustained growth.

Somewhat to my surprise Kudrin justified the policy of keeping the budget out of deficit by conjuring up the so-called “crowding out” hypothesis whereby the need to fund the budget deficit supposedly “crowds out” funding for private investment.  

 It would be more true to say that keeping the budget balanced or in surplus tends to limit consumption and that this can result over time in trade and balance of payments’ surpluses.  Again that is the policy followed in Germany and is the reason for the very large  trade and balance of payments surpluses there.  Once again it seems that Kudrin and Nabiullina want to copy it.  

In other words, by raising investment and limiting consumption they want to make Russia an exporter of finished goods rather than, or as well as, an exporter of commodities.

That incidentally point to an important fact about the current fall in real incomes in Russia which has happened since the start of the recession, and which is still underway, and which critics of the government speak so often about.  

As Kudrin and Nabiullina both know it is the product of super-tight monetary and fiscal policies they are both insisting on, and is moreover an intended consequence of those policies.  In other words it is being deliberately engineered as part of a programme of moving the Russian economy away from an economic model based on consumption towards one based on investment, manufacturing and export.

 Again the parallels with Germany, which also squeezes real incomes in order to limit consumption and gain competitiveness, are very striking.  Given the implications this has for most Russians, it is no wonder that Kudrin and Nabiullina are unpopular.

All of this of course was accompanied both at SPIEF and in Nabiullina’s latest comments at Sochi by much talk of various incremental reforms to improve the business climate, which took up most of the time during the presentation at SPIEF which I attended.  

As Kudrin and Nabiullina of course both know, these reforms have actually been underway in Russia for some time, and have resulted in a sharp improvement in Russia’s World Bank Ease of Doing Business rankings

From time to time the reality of this improvement is questioned.  However there is no reason to think it is not taking place.  Anecdotal evidence on the contrary suggests it is. German Gref, a supporter of Kudrin and Nabiullina who is Sberbank’s CEO, recently told Putin that it actually is taking place, and as the CEO of Russia’s biggest bank he is arguably in the best position to know. In a meeting on 4th August 2016 to discuss the support Sberbank is providing to small businesses, he said the following

“As far as small businesses go, there are two aspects here. First, they need rapid and high quality lending. Second, there is everything related to assisting small businesses to resolve all the remaining problems such as convenient practice for keeping accounts, banking accounting and so on.

We have made great progress in this area and, starting in September this year, a new law will come into effect making it possible to open accounts, make transfers, register changes to company charters and so on online.

Essentially, small businesses will not have to visit state agencies in person anymore. This programme, which we are implementing together with the tax service, is a big step forward in general.

I think that the environment that we will have in place by the end of 2016, when all of the legal amendments take effect, will mean that Russia will be offering one of the most interesting and technologically convenient environments for small businesses.”

(bold italics added)

To those who assume that Kudrin and Nabiullina are free market fundamentalists, I would say that the word “market” was barely mentioned during their entire SPIEF presentation, just as it barely appears in the Central Bank’s Guidelines document. 

On the contrary – and as I have heard Kudrin say before – Kudrin seems to favour elements of industrial planning, as well as state involvement in developing infrastructure, even as he criticises excessive government interference in private business activity.  I doubt there is any Russian official who believes – as do some people in the US and in Britain – that the market is infallible and can be left alone to take care of itself.

Like it or not this is Russia’s economic policy.  I know that some people don’t like it.  I also know that there is an alternative plan being proposed by the Stolypin Group which takes an altogether more Keynesian approach by seeking to expand the economy through higher deficit spending. Whilst this alternative plan seems to have some supporters in the Economics Ministry, and though Putin has agreed to look at it, it was absolutely clear to me at SPIEF that it is the current policy that Putin favours and which has his backing, and which has the overall support of the government.

I don’t expect it to change and Nabiullina’s comments on Friday all but confirm as much.

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Fusion GPS founder trapped in legal jeopardy, bets on Democrat midterm win to bury Russiagate hoax (Video)

The Duran – News in Review – Episode 135.

Alex Christoforou

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Fusion GPS researcher Nellie Ohr and ex-FBI official James Baker are set to testify before Congress, but Fusion GPS co-founder Glenn Simpson is taking the Fifth.

The man at the center of the Russiagate hoax, Glenn Simpson, headed the espionage/PR smear firm Fusion GPS, which ordered the discredited and fake Trump ‘dossier’, which John McCain handed to the FBI, and which Buzzfeed News published as actual news.

Simpson has a lot of explaining to do, and now appears trapped in his “under oath” lies.

Simpson had previously testified under oath to the House Intelligence Committee that he never met with DOJ official Bruce Ohr, husband to Fusion GPS researcher Nellie Ohr.

Simpson also stated under oath that he never discussed with Bruce Ohr the Steele dossier prior to the October FISA application, which was used to spy on Carter Page and kick off the ‘Russiagate hoax’.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the legal jeopardy entangling Fusion GPS co-founder Glenn Simpson. Republicans are close to breaking the ‘Russiagate hoax’ wide open, but Simpson is betting on delay tactics, and a subsequent Democrat midterm House victory, to save his ass from prosecution, and bury his involvement in a brazen attempt to discredit and remove an elected US President.

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According to Zerohedge, Fusion GPS co-founder Glenn Simpson may be in “real legal jeopardy” over inconsistent testimony given to Congress regarding his involvement in a massive counterintelligence effort against then-candidate Donald Trump, including the infamous Steele dossier.

Speaking with Fox News Maria Bartiromo, John Ratcliffe (R-TX) said…

“I’m not surprised that Glenn Simpson is taking the Fifth.”

“He probably should. He’s in real legal jeopardy. Very clearly someone is not telling the truth.”

Via The Daily Caller… 

Simpson, who investigated the Trump campaign on behalf of the DNC and Hillary Clinton presidential campaign, informed Congress on Thursday that he will plead the Fifth to avoid speaking with members of the House Judiciary and House Oversight & Government Committee in an interview set for Tuesday.

“The reason for that … is that Glenn Simpson had previously testified under oath to the House Intelligence Committee that he never met with Bruce Ohr or discussed with Bruce Ohr the Steele dossier prior to the October FISA application in 2016 or the 2016 presidential election,” said Ratcliffe, a member of the House Judiciary panel.

Via Fox News ‘Sunday Morning Futures’

Via Zerohedge

Ohr told the Judiciary and Oversight & Government Reform Committees in an August 28 interview that he met with Simpson in August and December of 2016 to discuss Fusion GPS’s opposition research into Donald Trump.

Bruce’s wife, Nellie Ohr, was hired by Fusion GPS for the anti-Trump effort at the time.

Simpson, however, told a different story to the House Intelligence Committee on November 14, 2017, when he said that he hadn’t been in contact with anyone from the DOJ or FBI until after the election. While he did acknowledge meeting with Bruce Ohr (meetings which would result in Ohr’s demotion), Simpson never disclosed his wife’s employment.

“Ohr, who has been demoted twice since December, was also in frequent contact with Christopher Steele, the author of the infamous anti-Trump dossier. Steele, a former British spy, was hired by Fusion GPS in June 2016 to investigate the Trump campaign’s possible links to the Kremlin.

Steele met with the Ohrs on July 30, 2016, a day before the FBI opened its counterintelligence investigation into the Trump team. Ohr met just after with FBI deputy Director Andrew McCabe.” – Daily Caller

Following the 2016 election, Steel and Ohr met over a dozen times, despite the FBI having blacklisted Steele for improper media disclosures concerning his work.

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Hillary and Holder are hurting Democrat Party with their rhetoric

Democrat-written opinion piece points out the fact that the party has radicalized so much it has left its own supporters behind.

Seraphim Hanisch

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Fox News ran an opinion piece written by Douglas E. Schoen early Sunday. It points out how radicalized the Democrat Party has become, and it is noteworthy because Douglas Schoen is a Democrat himself. He writes (emphasis added):

As Democrats campaign for the Nov. 6 midterm elections, they have plenty of legitimate criticisms to level at President Trump and Republicans who control the House and Senate. But Democrats were hurt in recent days by amazing and disgusting comments made by Hillary Clinton and former Attorney General Eric Holder.

As a Democrat, I want my party to win as many seats as possible in the House and Senate and to capture as many governorships and other state offices as it can. But the Clinton and Holder remarks do not advance that effort – they hurt it.

Former Secretary of State and 2016 Democratic presidential nominee Clinton said Tuesday that “you cannot be civil with” the Republican Party because it “wants to destroy what you stand for, what you care about.” She added that “if we are fortunate enough to win back the House and or the Senate, that’s when civility can start again.”

But even worse than Clinton’s comments were those of Eric Holder, who said at a recent campaign event in Georgia that Democrats should abandon the advice of former first lady Michelle Obama, who said at the 2016 Democratic National Convention that her party and mine should respond positively to negative attacks from the GOP.

Mrs. Obama said that “when someone is cruel or acts like a bully, you don’t stoop to their level. No, our motto is, when they go low, we go high.”

Holder argued just the opposite, saying: “When they go low, we kick them. That’s what this new Democratic Party is about.” He later said he wasn’t advocating violence – not literal kicking.

I beg to differ with both Clinton and Holder.

The only way the Democrats can regain the majority in either or both houses of Congress is by being civil, and pointing out the differences between Democrats and Republicans on the issues.

This is the real issue that should govern elections. Rather than the politics of popularity, one needs to consider policy points and which side offers points that are actually achievable, believable, concrete, desirable and specific. Calling President Trump and his administration names does not offer any constructive dialogue on policy matters.

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Conservatives and Trump supporters know this and it is precisely because of this that Donald Trump won the White House.

While the mainstream media (and here we can include Fox News largely) tried every possible way to ridicule Donald Trump’s candidacy, the people that actually listened to what he had to say found him very impressive on policy as much as his ability to speak as the voice of the people. The recent hysteria around Brett Kavanaugh’s nomination and confirmation to the Supreme Court was hysteria up front, driven by real policy fears from the deep core of liberals, as they know that this Justice is likely to form an effective wall against liberals ramming their agenda through the courts since their efforts fail legislatively so often.

Mr. Schoen continues:

As a centrist Democrat, the issue that strikes me most is the degree to which the national debt and the deficit are now out of control.

America faces uncertain and unstable times financially. Yet we are seeing a Republican-controlled Congress that has largely failed to do anything besides provide tax cuts for major corporations and the wealthiest individuals. This is by no means certain to have fundamentally altered the path of the economy or to provide economic growth.

Put another way, what the Trump administration has failed to do is to fix health care and cover pre-existing conditions more fundamentally; lead America in a fiscally responsible way; and pass tax cuts that help the average American. The Trump tax cuts have driven up the national debt and endangered funding for programs that benefit millions of people in our country.

So, here are policy points. Now we can begin to have a debate. Is Mr. Schoen right, or wrong in his information? This is far different than name-calling!

Democrats have long argued the need for a centrist agenda that focuses on:

  • Providing health-care benefits – whether private or public – to all Americans to cover expansively all pre-existing conditions.
  • Protecting the environment from the policies of the Trump administration that have only encouraged –and I dare say exacerbated – environmental degradation and climate change.
  • Promoting a pro-growth, inclusive agenda that seeks to put working people first, and the interests of Washington insiders and economic elites second. President Trump claims that he is doing this – he calls it “draining the swamp” – but this has not happened.

There is no justification for the angry rhetoric of Clinton and Holder, which only feeds into Republican claims that Democrats are an angry mob that can’t get over Clinton’s loss to Trump two years ago.

And Holder looks particularly bad because he was once the chief law enforcement officer of the United States, yet now sounds like he is effectively advocating what appears to be either illegal activities, or metaphorical initiatives that run counter to our traditions and our politics.

Hillary Clinton has said she won’t run for office again, but Holder has said he may run for president in 2020. Whoever the Democratic candidate turns out to be needs to be a responsible and respectable opponent – not one who calls for kicking the GOP or for incivility.

We should have learned from the Senate confirmation hearing for now-Supreme Court Justice Brett Kavanaugh that resisting for the sake of resisting doesn’t work. In fact, Democratic attacks on Kavanaugh may well have backfired, recent polls show.

The Democratic Party itself is lost now, without a message, a direction, a strategy, or agenda to confront a Republican Party that is seen as in many ways as having let the American people down.

We need change – but it must be constructive change. This Democrat believes that the comments that Eric Holder and Hillary Clinton made are wrong, counterproductive, and deserve to be rejected by the leadership of the Democratic Party.

Perhaps Fox News ran this opinion piece because Douglas Schoen is the first rational Democrat contributor to say anything in some time. However, it also appears that Mr. Schoen is a minority in his own party. It is a greatly logical approach to argue policy, as he has and as anyone who really understands American government should. But it is unclear as to whether the bulk of the Democrat Party even has reasonable people remaining.

If they do, it may well be that they are being betrayed by their party’s increasingly leftist and radical positions. The Party apparatus seems focused, but it also seems to have left people like Mr. Schoen behind.

Who knows? Maybe that will bring them into the Trump camp.

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Patriarch Bartholomew lifts anathemas on schismatics in Ukraine (VIDEO)

Most of the Orthodox world is in strong opposition to this move by Patriarch Bartholomew, whose motivations seem not to be of Christ.

Seraphim Hanisch

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The biggest news in the Eastern Orthodox world in recent times occurred on Thursday, October 11, 2018. The Ecumenical Patriarch of Constantinople, Bartholomew I, lifted the anathemas against two schismatic Ukrainian Churches and their leaders, paving the way to the creation of a fully independent Ukrainian national Orthodox Church.

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This announcement was given in English and is shown here in video with the textual transcript following:

“Presided by His All Holiness the Ecumenical Patriarch Bartholomew, the Holy and Sacred Synod convened for its regular session from October 9 to 11, 2018 in order to examine and discuss items on its agenda. The Holy Synod discussed in particular and at length, the ecclesiastical mater of Ukraine in the presence of His Excellency Archbishop Daniel of Pamphilon and His Grace Bishp Ilarion of Edmonon, Patriarchal Exarchs to Ukraine, and following extensive deliberations decreed (emphasis added):

First, to renew the decision already made, that the Ecumenical Patriarchate proceed to the granting of autocephaly to the Church of Ukraine;

Second, to re-establish at this moment the stavropegion of the Ecumenical Patriarchate in Kiev—one of its many starvorpegion in Ukraine that existed there always;

Third, to accept and review the petitions of appeal of Philaret Denisenko and Makary Maletich and their followers who found themselves in schism not for dogmatic reasons, in accordance with the canonical prerogatives of the Patriarchate of Constantinople to receive such petitions by hierarchs and other clergy of all the autocephalous Churches. Thus, the above mentioned have been canonically reinstated to their hierarchical or priestly rank, and their faithful have been restored to communion with the Church;

Fourth, to revoke the legal binding of the Synodal letter of the year 1686, issued for the circumstances of that time, which granted the right through economia to the Patriarch of Moscow to ordain the Metropolitan of Kiev elected by the clergy-laity assembly of his eparchy, who would commemorate the Ecumenical Patriarch as the first hierarch at any celebration, proclaiming and affirming his canonical dependence to the Mother Church of Constantinople;

Fifth, to appeal to all sides involved that they avoid appropriation of churches, monasteries, and other properties as well as every other act of violence and retaliation so that he peace and love of Christ may prevail.”

There are a few things that must be said about what this declaration is not before we get to the matter of what the points of actually are. The point of reference is the strict letter of the text above itself.

  • This is not a granting of autocephaly (full independent self-rule status) like the fourteen universally canonical Orthodox jurisdictions in the world. However, it is a huge step towards this status.
  • As far as Constantinople is concerned, Filaret Denisenko, the leader and “Patriarch” of the “Kyiv Patriarchate of the Ukrainian Orthodox Church” and Makary, the “Metropolitan” of the “Ukrainian Orthodox Autocephalous Church”, and all their faithful are now restored to communion. The statement says that this applies to “The Church” which may be trying to state that these two men (and all the faithful that they lead), are now in communion with the entirety of canonical Orthodoxy, but more likely, this may be a carefully worded statement to say they now are in communion with Constantinople alone.
  • There is an official call for the cessation of the violence directed against the Moscow Patriarchate parishes and communities, who are the only canonically recognized Orthodox Church in Ukraine, and who are also the largest by far in that country. The Kyiv Patriarchate and Uniate (Roman oriented) Greek Catholics in Ukraine have gone on record for seizing MP church properties, often by force, with neo-Nazi sympathizers and other radical Ukrainian nationalists. So this official call to cease the violence is now a matter of public record.

However, the reaction has been far less civil than the clergy wished for.

Ukrainian President Petro Poroshenko: “Expressing his view of the Moscow Patriarchate, Poroshenko added, “This is a great victory of the God-loving Ukrainian people over the Moscow demons, the victory of Good over Evil, the victory of Light over Darkness.”’

Perhaps this is the reason Metropolitan Onuphry of Ukraine (exarch under the Moscow Patriarchate) has been labeled an enemy of Ukraine and is now receiving death threats. Very civil.

Poroshenko’s statement is all the more bizarre, considering that it has been Ukrainian ultra-nationalists that have been violently attacking Moscow – related parishes in Ukraine. This has been corroborated by news sources eager to pin the blame on Russia, such as the U.K. Guardian.

The Union of Orthodox Journalists, based in Kiev and supportive of the Moscow Patriarchate, has been under intense cyber attack since October 11th, when the EP’s announcement was issued.

Ukrainian Orthodox Church (Moscow Patriarchate) Chancellor, Metropolitan Anthony of Boryspil and Brovary: “What happened at the Synod in Istanbul yesterday shocked the entire Orthodox world. It seems the Patriarchate of Constantinople is consciously embarking on a path of schism in world Orthodoxy. Patriarch Bartholomew ignored the calls of the Local Churches to convene a meeting of the primates to work out a common and conciliar solution to the Ukrainian Church issue and unilaterally made very serious but erroneous decisions. I hope the Orthodox world will give this action an objective evaluation… Having received the schismatics into communion, Patriarch Bartholomew did not make them canonical, but has himself embarked on the path of schism. The schismatics remain schismatics. They did not receive any autocephaly or tomos. It seems they have lost even that independence, although non-canonical, that they had and which they always emphasized.”

Metropolitan Rostislav of the Czech Lands and Slovakia:“The Orthodox world recognizes the only canonical primate of the Ukrainian Orthodox Church—His Beatitude Metropolitan Onuphry of Kiev and All Ukraine. This fact was repeatedly mentioned and confirmed by the primate of the Great Church of Christ His Holiness Ecumenical Patriarch Bartholomew on behalf of all present at the Synaxis of the Primates of the Local Orthodox Churches that was held in Chambésy (Switzerland) from January 21 to 27, 2016. Therefore, any attempt to legalize the Ukrainian schismatics by the state authorities should be strongly condemned by all the primates of the Local Orthodox Churches.

Patriarch Irinej of Serbia wrote two letters to the Ecumenical Patriarch, advocating that the provision of a new autocephaly is possible only with the consent of all local Orthodox Churches. According to Sedmitza.ru (Translation by Pravoslavie.ru),

“In these letters, it was very clearly stated that the granting of autocephaly cannot be the prerogative the Patriarchate of Constantinople alone, that new autocephalies must be created only with the consent of all the Local Orthodox Churches, as the Holy Synod of Antioch also said in its recent statement.”

Pat. Irinej also warned the Patriarchate of Constantinople against making such major decisions unilaterally, because “it will not bring harmony and peace to the Ukrainian land, but, on the contrary, will cause new divisions and new schisms.”

The Holy Synod of Antioch, the oldest Orthodox Church, and actually the very first place where the disciples of Christ were even called “Christians” weighed in on the issue as well and they had several things to say:

“The fathers examined the general Orthodox situation. They stressed that the Church of Antioch expresses her deep worries about the attempts to change the boundaries of the Orthodox Churches through a new reading of history. She considers that resorting to a unilateral reading of history does not serve Orthodox unity. It rather contributes to the fueling of the dissensions and quarrels within the one Church. Thus, the Church of Antioch refuses the principle of establishing parallel jurisdictions within the canonical boundaries of the Patriarchates and the autocephalous Churches as a way to solve conflicts, or as a de facto situation in the Orthodox world.

To summarize, this move by Constantinople is not being warmly received by many, many people. Most of the local Churches are on record giving their reaction to this process. In brief, here is the list most of the Local Churches and a one or two word summary of their reactions.

Patriarchate of Georgia: Unilateral action is wrong; Constantinople and Moscow must cooperate and find a solution together.

Patriarchate of Jerusalem: recognizes Ukraine as a canonical territory of the Russian Orthodox Church alone, as do all other local Churches

Patriarchate of Alexandria and all Africa: The Church does not bow to politicians. Moscow-led church is the only canonical Church in Ukraine.

Archbishop of Cyprus: Decries the Ukrainian situation but offered to mediate a discussion between Moscow and Constantinople

Bulgarian Patriarchate: Interference of the State in Church affairs leads to serious and negative consequences for both.

Polish Orthodox Church: Metropolitan Sawa called for a council of Orthodox ruling hierarchs to discuss this situation.

Estonian Orthodox Church: Condemns Constantinople’s actions in Ukraine.

Greek Archdiocese of America: Supports Constantinople’s actions in Ukraine.

The Orthodox Church of Greece (Metropolitan Seraphim of Piraeus quoted): “Schismatics, as we know, are not the Church, and communion with them is forbidden by the Divine and holy canons and the Apostolic and Ecumenical Councils. Why then this persistence of the Ecumenical Patriarch Bartholomew in recognizing schismatics as an autocephalous Church? To provoke schisms and divisions in the one universal and Apostolic Church of Christ?”

Russian Orthodox Church Outside of Russia (ROCOR): Ceased commemoration of Constantinople, ceased concelebration with Constantinople.

This issue has also rocked the secular geopolitical world.

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