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Ukraine near technical default

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posted on Sep, 28 2011 @ 03:37 PM
Add The Ukraine To List Of Countries On Verge Of Technical Default

And while we all know that Europe and the US can at best hope to kick the can for a month at a time until finally they all have to face the truth, we are happy to bring to your attention the latest entrant to the technical default club: Ukraine, which will shortly join its former USSR satellite Belarus in the hyperinflation club. The fact is that the Ukraine is slowly imploding - the government had stopped Treasury payments for all budget expenses in an attempt to accumulate the cash needed to make a coupon payment on debt and which apparently investors are unwilling to roll. In all fairness, the news update indicates that the country just barely made the 5.3 billion hryvnia payment, but that may be it for now. What about the next one?

You know what's funny about that? Well nothing really, but BNP Paripas, the biggest bank group in the world already in big trouble over Greece... has a 99.9% stake in UkrSibbank, Ukraine's third biggest bank with $46 billion in assets.

So they are about to take yet another loss.

Won't be long before Putin/Medvedev steps in to ``save their brothers`` (Russia was actually born in Ukraine) and screws the NATO plans to get them into the alliance.

Who will give Ukraine the money first will win them for the next few decades.

posted on Sep, 28 2011 @ 04:00 PM
damn, they're my neighbours.
I could really do without them becoming Russian. Although the west of the country would probably seperate and become autonomous Ukraine and the Russian half (Kiev and East)) would slip happily back to Mother Russia. I bet Belarus is begging to join that party (they've been tryng to return to Russia for a long time but Russia doesn't want them. Not yet at least until they need their Baltic ports - think Georgia and the Black Sea)

posted on Sep, 28 2011 @ 04:57 PM
reply to post by Aestheteka

How can they re join russia if every prime minster in the baltic states is a puppet to the west?

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