The new Kiev rulers ask $35 billion from the West

Yesterday, Catherine Ashton (on the right), High Representative of the Union for Foreign Affairs and Security Policy and Vice-President of the EC, went to Kiev where she paid tribute to the victims at the symbolic place of the protest movement EuroMaidan, Institutska Street. The Vice-President then met with acting Members of the new government, led by Oleksandr Turchynov (on the left), President ad interim of Ukraine. (EC Audiovisual Service, 24/2/2014).

Yesterday, Catherine Ashton (on the right), High Representative of the Union for Foreign Affairs and Security Policy and Vice-President of the EC, went to Kiev where she paid tribute to the victims at the symbolic place of the protest movement EuroMaidan, Institutska Street. The Vice-President then met with acting Members of the new government, led by Oleksandr Turchynov (on the left), President ad interim of Ukraine. (EC Audiovisual Service, 24/2/2014).

The new rulers of Kiev now demand from the West 35 billion in an aid package, without making it clear if this is in dollars or euros. As they say ‘after the meal comes the bill’ and the West has to come up with a convincing support scheme, because Ukraine can turn around and change direction just like that. Mercenaries can turn against their pay master if they find a better offer from the adversary. At the beginning of the Peloponnesian War in 431 b.c. the Thessaly cavalry, hired by Athens, in the middle of a battle against Thebais changed paymaster and side and turned against the Athenians. The West should be very careful when talking with the Ukrainians about money.

Facts are the strongest arguments against wishful thinking and hypocritical rhetoric which hides unspoken ambitions. Apply this little theory to what happens in Ukraine and you might come up with concrete answers. After the ‘Orange Revolution’ inspired by the West, the duo Yushchenko -Tymoshenco followed individual strategies for personal enrichment, letting down their western masters and driving the country to the abyss. It was the time when the oligarchs emerged out of the government-business unlawful embracement, making corruption the name of the game. The result was that Yanukovych backed by the Russians managed to reemerge as leading political force.

Need for natural gas

The problem is that the Ukrainian winter is very harsh. The country completely depends on its gas imports from Russia to power its productive machine and keep warm and alive its 45.5 million people. The West is completely incapable of supplying all those hydrocarbons the country needs. In many respects, the fact that Ukraine after the 2004 Orange Revolution fell again in the hands of Moscow, may be considered as an inevitable geographic reality.

The ideology of…corruption

The corrupt governance of the Orange Revolution heroes Yushchenko –Tymoshenco, close allies to the West, helped Yanukovych to win the 2010 Presidential election against Yulia Tymoshenco. Later on, she was condemned to 7 years imprisonment in a politically influenced trial, during which her old ally Yushchenko testified against her. This was an infallible witness that the duo had gone so deep in the unholy land of the corrupt business dealings that their conflicting interests dwarfed their liberal (?) ideology. Personal enrichment and individual political strategies had buried deep in the frozen Ukrainian ground any ideological facade the duo had used during the Revolution.

So corrupt and unpredictable had become the Ukrainian political scenery, that, around 2012, the Moscow backed Yanukovych turned to the European Union and started negotiating a full Association Agreement with Brussels. The contacts with Brussels became a valuable source of money and the European Investment Bank financed the extension of an existing metro line of Dnipropetrovsk, a city of more than one million people in south Ukraine. The EIB accorded a loan of €152 million over 25 years, with favourable terms.

West or East: Look at the weathercock

However, Yanukovych, following the ruinous for the country political practice of serving personal interests, last minute changed his mind and instead of signing the Association Agreement with the EU, chose to endorse the Moscow led Eurasian Union. There was more to it though. Reportedly, the EU Association Agreement provided only for €3 billion in soft loans, while at the same time Brussels demanded the release of Tymoshekco, his most fearful political opponent. On top of that, the EU Agreement provided no answers for the energy problem of the country.

In the last minute Yanukovych choose to take the Moscow offer containing a $15bn credit line, a generous price reduction for the Russian gas supplies and no demands about Tymoshenko being released from jail. The fact is though, that with Yanukovych now gone to an unknown destination, the needs for money and hydrocarbons remain the same and occupy the central reality for whoever governs Ukraine. If the West fails to come up with convincing answers about all that, everything may change from one day to the next. The regiments of the armed ‘protestors’ will disappear, if the hundreds of thousands of the Kiev citizens decide to come down again to the Maidan Nezalezhnosti.

 

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

European Parliament, plenary session in Strasbourg, week 43, 2013. Vote by a show of hands. (EP Audiovisual Services, 23/10/2013).

Parliament asks for the termination of EU-US bank data deal

Telenor MWC16

MWC 2016 LIVE: Telenor CEO calls on operators to embrace Mobile Connect initiative

Tom Segert, Director of Business Development of Berlin Space Technologies, on the right, providing some explanations on a technological feature to Valdis Dombrovskis, Vice-President of the EC. Dombrovskis visited Berlin to discuss economic and social policies in Germany and the EU. He also participated in a meeting to talk about the future of the Economic and Monetary Union. Date: 17/03/2016. Location: Berlin. © European Union , 2016 / Source: EC - Audiovisual Service / Photo: Steffi Loos.

No recovery for EU economy in sight and a Brexit can aggravate things for everyone

Event Date: 16/02/2016
TAYLOR, Keith (Greens/EFA, GB).
TRAN Public hearing ' Towards a European Road Safety Area '
Reference: EP-031806A
Copyright: � European Union 2016 - Source : EP.

A Sting Exclusive: the EU referendum is about fighting for an outward-looking Britain

European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal. Discussion between Mario Draghi, President of ECB, on the right, and José Manuel Barroso, President of EU Commission on the left, in the presence of Jeroen Dijsselbloem, President of Eurogroup. (EC Audiovisual Services, 26/05/2014).

Did Draghi ask the Germans to accept a drastic change of austerity policies?

MF Managing Director Christine Lagarde speaks at the Development Committee October 12, 2013 at the World Bank in Washington, DC. The IMF/World Bank Meetings are being held in Washington, DC this week which will host Finance Ministers and Bank Governors from 188 countries. IMF Photograph/Stephen Jaffe.

G20: Less growth, more austerity for developing countries

Joint press conference by Olli Rehn, Mario Draghi and Margrethe Vestager on the meeting of the G20 Ministers for Finance

Long live Eurozone’s bank supervisor down with the EU budget supremo

Discussion between Martin Schulz, President of the EP, on the left, and José Manuel Barroso, President of the EC, during the last European Council of December 2012. During the final joint press conference Barroso stressed that the financial sector also had to make a fair contribution to the recovery of Eurozone.  Then the EC decided the first step towards launching enhanced cooperation on a Financial Transactions Tax (FTT). (EC Audiovisual Services).

Financial transactions tax gets go ahead

Viviane Reding, Vice-President of the Eurpeam Commission in charge of Justice, Fundamental Rights and Citizenship, gave a press conference on the modernisation of travel rules for consumers and businesses. (EC Audiovisual Services, 09/07/2013).

How Eurozone consumers spend their income when they have one…

G20 Logo Turkey Antalya

Four things Turkey did for business in the G20

Pierre Moscovici

France fails again the exams. Kindly requested to sit in on Commission’s class

Michel Barnier, Member of the EC in charge of Internal Market and Services, participated in the public hearing on financial supervision in the EU which was organised in Brussels. (EC Audiovisual Services, 24/5/2013).

Commission: New proposal for centrally managed bank resolution

Iliana Ivanova (on the right), the ECA member responsible for auditing of the Youth Guarantee project and the drafting of the report entitled “Young and unemployed in Europe: obstacles ahead for the EU's Youth Guarantee”. (ECA Audiovisual Services, Copyright: EU)

The 28 EU leaders care more about fiscal orthodoxy than effectively fighting youth unemployment

jeremy-glasner-march-eich

Does Switzerland really need more medical students?

Daniel Rosario, EC's Spokesperson for Agriculture and Rural Development; and Trade, Ignacio Garcia Bercero and Dan Mullaney (from left to right) at Tenth round of EU/United States negotiations on Trade and Investment, Brussels, 13-17/07/2015 (EC Audiovisual Services, 13/07/2015).

EU and US close to an agreement on data sharing amid European citizens’ concerns

Starbucks_Logo__

Starbucks and FIAT again under Commission’s microscope: is Europe ready to kick multinationals out of the house?

Seán Lynch is a member of "My Europe" network and participated in the “My Europe” workshop in Dublin in October 2014.

A critical European young voice on Net Neutrality: the distance between Brussels and Washington

IMF/World Bank annual meetings in Washington, U.S., October 2016. AM16 CNN Debate on the Global Economy
International Monetary Fund Managing Director Christine Lagarde (L) and German Finance Minister Wolfgang Schauble participate in a CNN Debate Seminar on Global Economy October 6, 2016 at part of the 2016 IMF/World Bank Annual Meetings in Washington, D.C. (IMF Staff Photo/Stephen Jaffe).

IMF – World Bank meetings: US – Germany clash instituted, anti-globalization prospects visualized

European Parliament. Committee on Economic and Monetary Affairs (ECON). Monetary Dialogue with the President of the European Central Bank Mario Draghi (on the left). Roberto Gualtiery (S&D, IT), Committee Chair accompanies Draghi to the meeting room. Copyright: � European Union 2016 - Source : EP. City: Brussels. Event Date: 15/02/2016.

Why the ECB had to clarify it caters for the entire Eurozone not just Germany?

Web_MENA_Tunisia_78285

Global Citizen-Volunteer Internships

Karel De Gucht, Member of the European Commission in charge of Trade, travelled to Washington to meet with Michael Froman, US Trade Representative, in order to discuss progress in EU/US trade talks, and guide their Chief Negotiators on next steps. Stocktaking meetings on the Transatlantic Trade and Investment Partnership Agreement, Washington, 17-18/02/2014. (EC Audiovisual Services)

EU-US trade deal: Europe to Americanize its social model?

Lidija Globokar is Co-Founder & General Manager of Project 668

European Youth, quo vadis?

Johannes Hahn, Member of the European Commission in charge of Regional Policy, held the opening speech at the 4th Bruges European Business Conference, organised at the College of Europe of Bruges, (EC Audiovisual Services, 23/04/2013).

EU: All economic indicators in free fall

The Prime Minister of Greece Alexis Tsipras (waving a hand) paid yesterday an official visit to the European Parliament. The president of the legislative welcomed the Greek leader and directed him to the plenary. (European Parliament Audiovisual Services, Event Date: 08/07/2015, City: Strasbourg, Copyright: © European Union 2015 EP).

Greece’s future solely in the hands of Tsipras; he can direct the poor country any way he likes

China-Unlimited-Europe-insection

The Five Chinese Girls

World Retail Congress

The DNA of the future retail CEO

After the European Parliament plenary vote on the principles of winding down failing banks, the parliamentary Committee on Economic and Monetary Affairs will vote on the mechanism and fund. (EP Audiovisual Services 17-12-2013).

2014 will bring more European Union for the big guys and less for the weak

Jean-Claude Thébault, Director General of the Bureau of European Policy Advisers (BEPA), and Margaritis Schinas, Deputy Director General of the BEPA, participated in the seminar on Public Investment Banks, which was organised in Brussels by the BEPA. In the rostrum, Jonathan Faull, Director General of Commission’s DG "Internal Market and Services". (EC Audiovisual Services).

Banks promise easing of credit conditions in support of the real economy

COP21 Paris: The Final Agreement Adopted-full text

keith-taylor-Green MEP

A Sting Exclusive: “Paris and beyond: EU action and what COP21 should deliver”, Green MEP Keith Taylor discusses from Brussels 

José Manuel Barroso, President of the European Commission (in the rostrum), went to Berlin, where he participated in the 17th Tourism Summit (Tourismusgipfel). In his speech, the President reminded of the mutually beneficial effects of tourism and European integration, and underlined in particular the importance of the four freedoms of the Single Market for a flourishing tourism sector. (EC Audiovisual Services 02/12/2013).

The European giant tourism sector in constant growth

European Parliament. Committee on Economic and Monetary Affairs (ECON) meeting. In the chair, Sharon Bowles (ALDE, UK) (on the left). Nomination of ECB board, in the presence of Yves Mersch, Member of the Executive Board of the ECB. (EP Audiovisual Services).

The ECB proposes a swift solution for SMEs’ financing

The Dublin Castle. (EC Audiovisual Services).

Germany and France only care about keeping their borrowing cheap

European Economic and Social Committee. Public hearing on the implementation, at the national level, of EU policies for youth employment. The Labour Market Observatory of the Committee is carrying out an assessment of the policies put in place in Austria, Croatia, Finland, Greece, Italy and Slovakia to help young people find work. (EESC Audiovisual Services 1/4/2014).

The Brussels bureaucracy blocks the Youth Guarantee scheme

José Manuel Barroso, President of the European Commission (on the right), went to Berlin, where he met with Angela Merkel, German Federal Chancellor. (EC Audiovisual Services, 03/07/2013).

EU-US trade talks go ahead despite Prism and civil rights breach

Mario Draghi, Governor of ECB and Chairman of the Financial Stability Board, on the left, and Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, at the conference to strengthen the foundations of integrated and stable financial markets, organised jointly by the EC and ECB. (EC Audiovisual Services).

Paris, Washington, IMF against Berlin and ECB on money and interest

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

Alexis Tsipras talking to members of the Press. (European Parliament Audiovisual Services).

Alexis Tsipras ready to test Eurozone’s political sturdiness; Up to what point?

Facebook Background

European Sting Cookie Policy

Joaquín Almunia, Vice-President of the EC in charge of Competition, gave a press conference yesterday on several decisions on State aids, adopted on the same day by the European Commission. He is obviously perplexed with his own decisions. (EC Audiovisual Services, 18/12/2013).

Fair completion rules and the law of gravity don’t apply to banks

José Manuel Barroso, President of the EC, received Anshu Jain, co-Chairman of the Management Board of the Deutsche Bank

Why banks escape from competition rules but not pharmaceutical firms

Ingenu MWC16

MWC 2016 LIVE: Ingenu steps up efforts to build LPWA networks across the globe

Claudia China Unlimited

China Unlimited: the dragon’s long and winding road

Francois Hollande Africa 2bn euros COP21 Paris

COP21 Breaking News: “There is an ecological debt that the world needs to pay back to Africa”, French President Francois Hollande promises 2 Billion euros by 2020 from Paris

European_Youth____Forum

EU Youth Report casts stark light on life for young Europeans

manufacturers

Manufacturers Get Smarter for Industry 4.0

Joint press conference by Andrus Ansip, Vice-President of the EC, Günther Oettinger and Vĕra Jourová, Members of the EC, on the conclusions of the weekly meeting of the Juncker Commission (© European Union, 2015   /   Source: EC - Audiovisual Service, Shimera   /   Photo: Jennifer Jacquemart)

EU Commission announces Safe Harbour 2.0 and a wider Data protection reform

Yesterday, José Manuel Barroso, President of the European Commission, Antonis Samaras, Greek Prime Minister and President in office of the Council of the EU, several members of the College of the EC and practically the entire Greek government participated in the inaugural meeting of the Greek Presidency of the Council of the EU in Athens. Ceremonies were brief and austere. (EC Audiovisual Services 8/1/2014)

Eurozone: A Sluggish economy offers no extra jobs

Eurogroup meeting - February 2015.  From left to right: Wolfgang Schauble, German Federal Minister for Finance, Mario Draghi, President of the European Central Bank. Eurozone finance ministers participate in an Extraordinary Eurogroup meeting on 11 February in Brussels. Extensive discussions for an agreement on the Greek program take place during today's Eurogroup meeting, in Brussels. (European Council - Council of the European Union Audiovisual Services, Shoot location: Brussels – Belgium Shoot date: 11/02/2015)

ECB’s billions fortify south Eurozone except Greece; everybody rushes to invest in euro area bonds zeroing their yields

Ambassador Yang Yanyi Chinese Mission to EU

The South China Sea Arbitration: Illegal, Illegitimate and Invalid

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s