Ukraine’s economy turning Greek while EU monitors closely


A worker checking equipment at the Dashava gas storage near western Ukrainian town Stryi. Russia cut off gas shipments to Ukraine 01 July 2015, in the aftermath of the two countries' failure to agree on a price for the supplies the day before. Meanwhile, with a negative outlook for the economy, the country needs stability and development.

With fewer lifelines available, and opportunities wasted, Ukraine has options which it must take advantage of

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...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now