When Merrill Lynch warns that Ukraine’s government is “underestimating the repercussions of default”, and economic indicators, the saga of the Greek economy vividly reinforces the need to address the situation.
Much like Greece, Ukraine has made a threat to stop making payments to its creditors unless a proposal for a $19 billion writedown of bonds is accepted. Also, exactly like in Greece, the Central bank assured the public that there would be no difficulty for Ukraine’s banks and budget, thr...
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