Friday, November 20, 2009
It's not the jokes...it's the way you tell 'em
Monday, November 16, 2009
President and PoR digging country deeper into hole
From the 'FT's' Lex column today:
"Europe is on tenterhooks over whether Russia will shut off gas to Ukraine and leave it shivering in January. If that happens, however, blame will fall on Kiev, not Moscow.
Recession-ravaged Ukraine’s political squabbling and populism has hit fever pitch ahead of presidential elections on January 17. That has led the International Monetary Fund to suspend co-operation and delay a $3.8bn loan payment, due on Sunday. The government had already backed off from commitments to increase long-subsidised domestic gas prices. The final straw was President Viktor Yushchenko signing into law, against IMF [and PM Tymoshenko's ] objections, a parliamentary bill [proposed by PoR] that will raise minimum wages and pensions by 20 per cent – costing 7 per cent of economic output in 2010.
Since Ukraine is reliant on IMF funding to make ends meet, it could struggle to pay its next two monthly gas bills – leading to another winter shut-off. It only just scraped together October’s payment. Yet, for all its bluster, Russia would rather keep the taps open. The Kremlin has belatedly realised the damage to its reputation from shut-offs, and last January’s interruption to European supplies cost state-run Gazprom dearly. Hence Prime Minister Vladimir Putin’s exhortation that Brussels extend a loan to Ukraine.
And why meddle in Ukraine’s electoral process this time? Moscow’s bogeyman, Mr Yushchenko, trails badly in the polls. Either frontrunner, Prime Minister Yulia Tymoshenko or Viktor Yanukovich, is more acceptable to Russia.
Ukraine still has $28bn in foreign currency reserves; the central bank will probably allow some to be used to pay for gas. A bigger question is whether it will plug the budgetary gap by printing money. If so, inflation will result; if not, wage arrears beckon. Either option may put pressure on Ukraine’s currency and asset prices. Europe’s gas consumers must hope they do not become collateral damage."
Sunday, November 15, 2009
Akhmetov - masterful football tactician
Friday, November 13, 2009
British papers on Holodomor
Wednesday, November 11, 2009
Mevedev says Russia-Ukraine probs all Yush's fault
Monday, November 09, 2009
Scoring cheap points
Wednesday, November 04, 2009
Send for the men in white coats...
Tuesday, November 03, 2009
Authorities will be blamed if flu epidemic worsens
Saturday, October 31, 2009
Swine flu panic
Monday, October 26, 2009
Foreign Minister Poroshenko on NATO
Sunday, October 25, 2009
'Minor' presidential candidates put in good performances on TV
Thursday, October 22, 2009
Presumption of innocence - what's that?
Sunday, October 11, 2009
Ukrainian way of doing business
"Tony Blair, the favourite to become Europe’s first president, is believed to have accepted tens of thousands of pounds from a steel billionaire [Viktor Pinchuk, no less] campaigning for Ukraine to join the European Union. "
As for Viktor P - no such thing as bad publicity..