Friday, October 3, 2014

Ukraine is broke – and winter is coming… — RT Op-Edge

Ukraine is broke, and that's the sad legacy of this year's tumult. The question now is: will its western “friends” and Russia save Kiev from the abyss?

One day, during the credit-fueled economic madness of the early Noughties, I got a credit card in the post. I hadn’t ordered it: the bank had just forwarded it without any prompting. That sounds crazy now, but was considered normal back then. I was a student and it wasn’t Christmas, but it sure felt like it. Armed with my plastic pal and its €3,000 limit, I hit Dublin’s luxury Brown Thomas store and purchased designer gear with all the intent of a puppy on amphetamine.

A few raucous nights out followed, “More champagne? No bother!” and a trip to Paris. Then reality dawned and I had to pay it back. That wasn’t fun – in fact, it was extremely difficult. However, while grazing on baked beans and toast, I had my memories of the “good times.”

Countries often experience similar short-term periods of paper wealth, followed by a humongous hangover when the debt collectors come calling. There are a myriad of current examples in Europe: Greece, Spain and my own Ireland for starters. Others didn’t have much of a party, but still got the furry tongue – Hungary, Cyprus and Portugal spring to mind.

Nevertheless, there is one European state that bucks all trends by having had no shindig at all before getting its medicine from the markets – Ukraine. That is, unless you count a civil war, a violent revolution and a horrifically divided nation as a party. Incredibly, some in Ukraine actually do. To them, Maidan and its consequences is all a big celebration. Well, the hijinks are over now and the DJ has just played “My Way.”

Ukraine is broke. It was already treading water before the “revolution” – helped by corruption that ranged from the small scale to the incredibly large. Now, however, it’s completely banjaxed. Meanwhile, the “do-gooders” in the mainstream media ignore this while they crack on about “nation building” and “reforms.”

Complete story at - Ukraine is broke – and winter is coming… — RT Op-Edge

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