If Greece’s default is not the end of the world for Berlin, the same applies to Ukraine in spades


January 7, 2015
Translated from Russian by J. Hawk

The visit to Berlin by official Ukrainian delegation headed by Prime Minister Arseniy Yatsenyuk did not meet expectations. For example, 500 million euro credit announced by several media outlets did not in fact materialize. The Minister of Economy of Ukraine Ayvaras Abromavichius clarified that the document signed in Berlin is not a credit agreement, but rather a memorandum of understanding which is not legally binding.

Moreover, the money can be allocated only for the reconstruction of the Donbass, but since combat operations are continuing and will continue for the foreseeable future, it is difficult to predict when these 500 million would ever be received by Ukraine.

The MoU mentioned above is probably a fig leaf, a face saving measure that Berlin afforded Yatsenyuk who would have otherwise returned home entirely empty-handed. But the coolness toward Yatsenyuk is striking. Clearly his credibility as a national leader must be at an all-time low, and his promise to . Likewise few people seem to genuinely believe Russia is bent on invading EU countries. So what is going to be Yatsenyuk’s next move?

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