ZeroHedge – EU Offers Conditional “Aid” For Ukraine’s “Catastrophic, Pre-Default” Economic State – 23 February 2014

ZeroHedgeThere is no money in Ukraine’s Treasury account,” exclaimed ‘Interim President’ Oleksandr Turchynov to the Ukrainian parliament; adding that the Ukraine economy is in a “catastrophic state.”

  • *THERE ARE PROBLEMS WITH BANKING SYSTEM AND HRYVNIA: TURCHYNOV
  • *PROBLEMS WITH PENSION FUND ARE “COLOSSAL”: TURCHYNOV
  • *UKRAINE’S ECONOMY IS IN A `PRE-DEFAULT’ SITUATION: TURCHYNOV

Hardly surprising given the months of protest; but with Russia ‘conditionally’ postponing its EUR2bn ‘loan’, the Europeans are riding to the nation’s aid with promises of EUR20bn (if Ukrainian authorities meet certain conditions). But, as the map below shows, a great deal of the nation’s wealth lies in the eastern (pro-Russia) region.

Read the full story at: www.zerohedge.com / link to original article

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