Any dollars under there?
With Ukraine’s currency plunging to a three-year low of 8.27 hryvnia to the dollar, and central bank reserves dwindling, the administration of President Viktor Yanukovich has turned to hardball tactics to preserve stability.
A series of new currency market rules adopted early this week aim to force impoverished citizens and oligarch-owned exporters into coughing up their hard currency cash. Continue reading »
It’s too early to call the result of Ukraine’s parliamentary election on Sunday but if exit polls are any guide the country is set for a delicate balancing act between government and opposition in parliament and, on the world stage, between the west and Russia.
The country branded by Angela Merkel as a dictatorship may not, by a slim margin, merit quite such outright condemnation. But the forces competing for its future could tip it either way. Continue reading »