CCTV Script 17/12/14

— This is the script of CNBC's news report for China's CCTV on December 17, Wednesday.

[SOT: AUSTAN GOOLSBEE / Economics Professor, University of Chicago, Booth School of Business] "Russian economy was already in tough spot before you started seeing oil prices going down substantially. They got major outlays from their military adventures throughout the former eastern bloc countries, and a heavy commodity dependence as you see oil prices going down, they are really in a tough spot. They are raising rates by massive amounts and they're barely making it. You're seeing the Rouble continuing to plunge despite raising the interest rate 17%. So I think there's a high risk here of another default.

[SOT: JIM SWANSON / Chief Investment Strategist, MFS Investment Management] "I'm not saying that Russia doesn't have a problem, but it's a balance sheet problem that could lead to 98, and a massive world crisis. I don't see that. And let's remember the input cost, which is petroleum around the world, it is affecting Russia, and it could tempt them to do things."

Follow us on Twitter: @CNBCWorld