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| Caucasus/Russia/Central Asia |
| Ukraine's currency just collapsed 50 percent in two days |
| 2015-02-08 |
| h/t Gates of Vienna Ukraine, to use a technical term, is broke. That's what you call a country whose currency has lost half its value in just two days. The problem is simple: Ukraine has no money and barely any economy. It's already talking to the IMF about a $15 billion bailout and what's euphemistically being called a debt "restructuring" i.e., default as its reserves have dwindled down to $6.42 billion, only enough to cover five weeks of imports. (Three months worth is considered the absolute least you can get by with). Another "kinetic action" that doesn't go as planned? |
| Posted by:g(r)omgoru |
| #7 How do you negociate with a rat faced dwarf pedophile that think he is the new Hitler? |
| Posted by: hotspur666 2015-02-08 23:51 |
| #6 What happens when you start a war you can't afford and your military can't win. There are no good guys in this war. Ukraine should have gone for a negotiated settlement from the start. |
| Posted by: phil_b 2015-02-08 16:36 |
| #5 Not only insolvent, but free-loading, then. |
| Posted by: Anguper Hupomosing9418 2015-02-08 14:30 |
| #4 Actually Ukraine has been living on Russain oil sold below marketprice and with Russia forgiving part of the payment. No longer. |
| Posted by: JFM 2015-02-08 14:04 |
| #3 Ukraine has been insolvent far longer than the last two days. |
| Posted by: Anguper Hupomosing9418 2015-02-08 12:42 |
| #2 Seems simple, Don't sell them anything just trade. |
| Posted by: Redneck Jim 2015-02-08 12:23 |
| #1 Ukraine should join the Euro! |
| Posted by: Bright Pebbles 2015-02-08 06:01 |