Saturday, March 29, 2014
The International Monetary Fund has agreed a $14-18 billion two-year bailout for Ukraine, a deal to help it recover from months of turmoil that will also unlock further credits making a total of $27 billion. The agreement, announced on Thursday, is intended to help the heavily-indebted ex-Soviet republic stabilize its economy after anti-government protests which resulted in the overthrow of President Viktor Yanukovich and a standoff with Moscow in which Russia annexed the Crimea region. – Reuters
As the famous Macedonian General Pyrrhus once observed after winning the day against a superior Roman force but losing much of his army in the process: "A few more victories like this and we are undone."
Posted by John MacHaffie at 11:47:00 AM