Russia celebrates its victory over Germany by a Soviet style military parade.

During his two terms as President, Vladimir Putin has attempted to remake Russia into a major world power.

As he is "stepping down" from president to prime minister, Vladimir Putin will remain the man running Russia with an iron fist.

Some analysts are raising the possibility that Putin's Russia represents a threat for the West, and could perhaps even be the start of a New Cold War.

"The New Cold War " is the title of Edward Lucas new book. Edward Lucas is the Economist's former Moscow Bureau Chief. To read about Ed Lucas sobering assessement on the topic go to: http://www.fpa.org/pubs_inventory2418/pubs_inventory_show.htm?doc_id=670602