And Now The Real Economic Pain Begins As IMF Unleashes $27BN Bailout In "Near Bankrupt" Ukraine

Tyler Durden's picture




 

Gazprom must really be demanding payment on overdue Ukraine invoices which is the only way we can explain the unprecedented speed with which the IMF has managed to cobble together a makeshift bailout package of up to $27 billion - the bulk of which will naturally go to Russia - which has just made Ukraine its latest vassal state.

As Bloomberg reports, Kiev reached a staff-level agreement with the Washington-based lender for a two-year loan of $14 billion to $18 billion. The IMF’s board must still sign off on the package, Ukraine’s third since 2008, and the government needs to complete “prior actions” to receive the first installment.  Approval is “expected in April, following the authorities’ adoption of a strong and comprehensive package of prior actions aiming to stabilize the economy and create conditions for sustained growth,” IMF mission chief Nikolay Gueorguiev said in the statement. Disbursement may start next month, he said at a news conference in Kiev.

There are of course, conditions: "Approval is “expected in April, following the authorities’ adoption of a strong and comprehensive package of prior actions aiming to stabilize the economy and create conditions for sustained growth,” IMF mission chief Nikolay Gueorguiev said in the statement. Disbursement may start next month, he said at a news conference in Kiev."

Just like Troika disbursement for Greek aid may come any minute now... as long as Greece allows to extend the definition of fresh milk so European milk exporters can put Greek milk producers out of business. Yup: we know how the IMF works. That, and of course the requirement to hike gas prices by 40% or so.

And then comes the hyperinflation: "Monetary policy will target domestic price stability while maintaining a flexible exchange rate. This will help eliminate external imbalances, improve competitiveness, support exports and growth, and facilitate the gradual rebuilding of international reserves. The NBU plans to introduce an inflation targeting framework over the next twelve months to firmly anchor inflation expectations."

Very high inflation targeting.

More:

The IMF agreement will clear the way for 1.6 billion euros ($2.2 billion) in emergency aid from the European Union, European Commission President Jose Barroso said March 5. The EU offered an 11 billion-euro aid package. Ukraine is also waiting for $1 billion in loan guarantees and $150 million in direct assistance from the U.S. “This represents a powerful sign of support from the international community for the Ukrainian government, as we help them stabilize and grow their economy, and move their democracy forward,” the White House said in an e-mailed statement.

Because there is nothing quite like insolvent Europe bailing out insolvent Ukraine.

As part of the IMF agreement, the Ukrainian government agreed to cut
the budget deficit to 2.5 percent of gross domestic product by 2016 and
to raise retail energy tariffs toward their full cost, according to the
Washington-based lender
. The central bank will shift toward a flexible
exchange rate and the country will tackle bad debts in the banking
industry, it said.

As we said: welcome to IMF vassal state status. Enjoy your hyperinflation dear Ukrainians - at least you will have your "freedom"... just like Greeks have the Euro, if no economy to speak of.

Then again, with or without the IMF, Ukraine is likely a lost cause - earlier today, acting PM announced that the country is on the verge of bankruptcy, a statement which has no hyperbole in it whatsoever.

To wit: Ukrainian economy to shrink 3% this year, inflation to be 12%-14%, Prime Minister Arseniy Yatsenyuk tells parliament in Kiev. He added the GDP forecast based on passage of “unpopular reforms. If those laws aren’t adopted, we see default and 10% economic  decline. This package of laws is very unpopular, very difficult, very tough reforms, which we should have done in the last 20 years."

Flashback to Hank Paulson waving a blank 3 page term sheet before Congress demanding ulimited power or else the global economy gets it.

Other disclosures:

  • Russian trade restrictions to reduce GDP by 1ppt; Russia will also raise energy prices
  • “This is the payment for Ukraine’s independence”
  • Ukrainian state debt is 53%/GDP
  • Ukraine to pay $480/kcm for Russia gas starting on April 1
  • Ukraine didn’t use reserves to back hryvnia in March
  • Govt seeks to introduce more progressive income tax system
  • Govt to keep minimum wage unchanged this year
  • Govt to index pensions, public wages to inflation
  • Ukraine needs “urgent” constitutional reform

The full IMF statement is below:

An International Monetary Fund (IMF) mission worked in Kyiv during March 4-25, to assess the current economic situation and discuss the authorities’ economic reform program that could be supported by the IMF. At the conclusion of the visit, Nikolay Gueorguiev, Mission Chief for Ukraine, issued the following statement today in Kyiv:

 

“The mission has reached a staff-level agreement with the authorities of Ukraine on an economic reform program that can be supported by a two-year Stand-By Arrangement (SBA) with the IMF. The financial support from the broader international community that the program will unlock amounts to US$27 billion over the next two years. Of this, assistance from the IMF will range between US$14-18 billion, with the precise amount to be determined once all bilateral and multilateral support is accounted for.

 

“The agreement reached with the authorities is subject to approval by IMF Management and the Executive Board. Consideration by the Executive Board is expected in April, following the authorities’ adoption of a strong and comprehensive package of prior actions aiming to stabilize the economy and create conditions for sustained growth.

 

“Ukraine’s macroeconomic imbalances became unsustainable over the past year. The (until recently) pegged and overvalued exchange rate drove the current account deficit to over 9 percent of GDP, and a lack of competitiveness led to the stagnation of exports and GDP. With significant external payments and limited access to international debt markets, international reserves fell to a critically low level of two months of import in early 2014. The 2013 fiscal deficit was 4½ percent of GDP, and the government accumulated sizeable expenditure arrears. The 2013 deficit of the state-owned gas company Naftogaz reached nearly 2 percent of GDP, driven by the sharp increase in sales at below-cost prices. Without policy action, the combined budget/Naftogaz deficit would widen to over 10 percent of GDP in 2014.

 

“Following the intense economic and political turbulence of recent months, Ukraine has achieved some stability, but faces difficult challenges. To safeguard reserves and address currency overvaluation, the National Bank of Ukraine (NBU) floated the exchange rate in February. Measures implemented in February and March helped stabilize financial markets and ensured that critical budget payments have been met. Nonetheless, the economic outlook remains difficult, with the economy falling back into recession. With no market access at present, large foreign debt repayments loom in 2014-15.

 

“The goal of the authorities’ economic reform program is to restore macroeconomic stability and put the country on the path of sound governance and sustainable economic growth while protecting the vulnerable in the society. The program will focus on reforms in the following key areas: monetary and exchange rate policies; the financial sector; fiscal policies; the energy sector; and governance, transparency, and the business climate.

 

“Monetary policy will target domestic price stability while maintaining a flexible exchange rate. This will help eliminate external imbalances, improve competitiveness, support exports and growth, and facilitate the gradual rebuilding of international reserves. The NBU plans to introduce an inflation targeting framework over the next twelve months to firmly anchor inflation expectations.

 

“Financial sector reforms will focus on: (i) ensuring that banks are sound, liquid, and well-capitalized; (ii) upgrading the regulatory and supervisory framework of the NBU, including complying with international best practice and supervision on a consolidated basis, and (iii) facilitating resolution of non-performing loans in the banking sector.

 

”Fiscal policy will secure priority spending during the coming months and implement deeper fiscal adjustment over the medium-term. The initial stabilization in 2014 will be achieved through a mix of revenue and expenditure measures. For 2015-16, the program envisions a gradual expenditure-led fiscal adjustment—proceeding at a pace commensurate with the speed of economic recovery and protecting the vulnerable—aiming to reduce the fiscal deficit to around 2½ percent of GDP by 2016.

 

“Energy sector reforms will focus on reducing this sector’s fiscal drag, while attracting new investment and enhancing efficiency. A key step is the commitment to step by step energy reform to move retail gas and heating tariffs to full cost recovery, along with early action towards that goal. Importantly, this will be accompanied by scaled up social protection to mitigate the impact on the most vulnerable. Over time, the program will focus also on improving the transparency of Naftogaz’s accounts and restructuring of the company to reduce its costs and raise efficiency.

 

“Reforms to strengthen governance, enhance transparency, and improve the business climate will be central elements of the program. Policy measures in these areas will include adoption of a new procurement law to close loopholes allowing evasion of a competitive procedure; measures to facilitate VAT refunds to businesses; and an independent quarterly audit of the Naftogaz accounts. The above, and other measures, will be fully developed with the assistance of the World Bank, EBRD, and other international financial organizations and will help increase transparency of government operations, address long-standing governance issues, and remove barriers to growth. Moreover, the IMF will prepare a comprehensive diagnostic study that will cover the anti-corruption and governance framework, the design and implementation of laws and regulations, the effectiveness of the judiciary, and tax administration.

 

“The authorities' economic reform program is rightly focused on addressing the key economic challenges faced by Ukraine. Its success in achieving these important objectives will be steadfast implementation, which will enable these efforts to be supported by the international community.”

Finally, if everything goes according to plan, Ukraine has a sterling role model to look forward to. Quoting German FinMin Wolfi Schauble from yesterday - "If ever we were to reach a situation in which we had to stabilize Ukraine, we would have many experiences from the Greek case to draw on." In other words, Greece is now an example of "successful" economic reforms. Goodbye Ukraine, it was nice knowing you.

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Thu, 03/27/2014 - 08:11 | 4597862 hugovanderbubble
hugovanderbubble's picture

Mobius, Franklin Templenton Bailout?

Thu, 03/27/2014 - 08:23 | 4597899 Stoploss
Stoploss's picture

Anything in there for Detroit??  No?

Ukraine is being stolen from Russia. 

Let's see how long this goes, before the hammer swings..

Thu, 03/27/2014 - 08:26 | 4597908 new game
new game's picture

putin is being forced into a corner, and it may get interesting quick. he knows all to well about banker oligarchies...

Thu, 03/27/2014 - 08:31 | 4597926 sessinpo
sessinpo's picture

Putin in corner? Hardly.

Thu, 03/27/2014 - 08:40 | 4597952 new game
new game's picture

we shall see, not saying he is desparate, just that his hand is being forced...

Thu, 03/27/2014 - 08:53 | 4597990 Global Hunter
Global Hunter's picture

Not sure why all the thumbs down New Game, the USsA/NATO seem to be trying to force Russia to act to me so that they can scream and cry that "Russia is the aggressor".  I'm not sure why or what this will acheive, I think they believe that wars are fought in the press and public opinion is all that matters.  I also think they're very desperate to be acting this way, the 18 trillion of debt the US has found itself in will make people act strangely and their printing press is way to valuable to give up peacefully.

Thu, 03/27/2014 - 09:20 | 4598085 SamAdams
SamAdams's picture

Ukraine made to buy it's "freedom" from the bear, made possible by an unelected official destined to be replaced in June.  Congratulations Greece, you have been replaced as EU's armpit economy. 

Thu, 03/27/2014 - 09:53 | 4598193 Manthong
Manthong's picture

So what will they do about all the Russian tanks that will be there before the (ha!) levereged buy-out?

Thu, 03/27/2014 - 09:59 | 4598220 Mister Ponzi
Mister Ponzi's picture

Within the next six months, a majority in Western Ukraine will probably vote for annexation by Russia. Putin just has to sit tight and wait.

Thu, 03/27/2014 - 10:21 | 4598325 SilverRhino
SilverRhino's picture

Western Ukraine?  Definitely Eastern ... not so sure about Western.   

But the funny part would be for them to default on the 27 billion, dissolve the government and central bank and then vote for annexation as a Russian Oblast using the Russian Ruble .  

 

Thu, 03/27/2014 - 10:32 | 4598362 Chupacabra-322
Chupacabra-322's picture

"Western" Ukraine is going to fall the same fate as Lybia & Syria after Criminal UNITED STARES, CORP. INC destabilization campaigns of Sovereign countries. States of perpetual war/s.

Thu, 03/27/2014 - 10:28 | 4598346 Freddie
Freddie's picture

Eastern or Western Ukraine?   The east should be speaking up now and saying that this "deal" made by unelected oligarchs aka Nuland's boys is not acceptable and start their own referendum to get out.

Thu, 03/27/2014 - 10:48 | 4598447 Chupacabra-322
Chupacabra-322's picture

Absolutely. The Criminals method of Operation seems to be installing NGO's in the Bankster funded destabilized countries.

Thu, 03/27/2014 - 09:21 | 4598089 john39
john39's picture

they know that, no matter how ridiculous their actions appear to many today, if they win the war, they will rewrite history according to their tastes, and tomorrow's generations will not know what really happened.

Thu, 03/27/2014 - 09:53 | 4598197 Dollarmedes
Dollarmedes's picture

Putin has suckered the west into bailing out Ukraine, taking care of HIS problem on HIS border (and Gazprom will get paid back in full). Next, he will try to rig the upcoming elections, or some other move to control Ukraine without having to invade. He may even try to precipitate a collapse of the Ukrainian state so they have nowhere else to turn.

 

Most of the benefit of a land grab, none of the costs, and his hands are relatively clean.

Thu, 03/27/2014 - 09:12 | 4598061 Antarctico
Antarctico's picture

we shall see, not saying he is desparate, just that his hand is being forced...

 

Putin's pimp hand is firm but gentle.

Thu, 03/27/2014 - 10:32 | 4598361 dtwn
dtwn's picture

I think the west (US) is spasming in the last throes of the death of an empire.  Sure, they may be 'trying' to force Putin's hand, but I don't think Putin is one to let himself be forced.  I see him as being very patient, calculatingly letting the west dig themselves a hole they can't get out of.

Thu, 03/27/2014 - 08:28 | 4597913 Latina Lover
Latina Lover's picture

Here comes the IMF/NWO Ukrainian screwjob. 

Bend over Ukies, you are about to discover Nulands real sexual identity....

Thu, 03/27/2014 - 08:18 | 4597876 GetZeeGold
GetZeeGold's picture

 

 

$27BN Bailout In "Near Bankrupt" Ukraine

 

Wow.....that really grew from the 2 billion I last heard. Are we borrowing that from China to give to the IMF to give to the Ukraine?

Thu, 03/27/2014 - 08:20 | 4597889 GetZeeGold
GetZeeGold's picture

 

 

Must have added a food inflation clause. You know how crazy that's been lately.

Thu, 03/27/2014 - 08:40 | 4597951 SoilMyselfRotten
SoilMyselfRotten's picture

"Are we borrowing from China to give to the IMF to give to the Ukraine?

Slight edit: Are we stealing from the American people to borrow from the Chinese to give to the IMF to give to Ukraine?

There, fixed

Thu, 03/27/2014 - 08:45 | 4597971 GetZeeGold
GetZeeGold's picture

 

Better.

Thu, 03/27/2014 - 10:08 | 4598254 knightowl77
knightowl77's picture

"Slight edit: Are we stealing from the American people to borrow from the Chinese to give to the IMF to give to Ukraine?"

 

Instead, how about; Are we stealing from the American people to borrow from the Chinese to give to the IMF to give to the Ukraine so they can pay Putin for annexing Crimea?

Thu, 03/27/2014 - 11:27 | 4598655 shovelhead
shovelhead's picture

Nah.

We're stealing from kids who haven't even been born yet.

Dat Uncle Sugar, he don't care...

All dat sugar come from thin air.

Dat ol' Uncle gonna drop that load...

Sum other bitch pay down dat road.

Thu, 03/27/2014 - 09:13 | 4598058 dontgoforit
dontgoforit's picture

Cost over-run.  It ain't cheap creating a One World Government.

Thu, 03/27/2014 - 08:39 | 4597949 ebworthen
ebworthen's picture

GetZeeGold said:  "Are we borrowing that from China to give to the IMF to give to the Ukraine?"

No, it's coming out of your paycheck, Bub.

Tell Mom to can more tomatoes.

Long rice and beans.

Thu, 03/27/2014 - 09:39 | 4598143 Rafferty
Rafferty's picture

 Are we borrowing that from China to give to the IMF to give to the Ukraine?

 

No.  Old Yeller is going to just fire up the printers again.

Thu, 03/27/2014 - 08:13 | 4597867 Sudden Debt
Sudden Debt's picture

And Ukraine is enslaved by the banks. Sad... more people turned into garbage hunters for food...

I wish they could air on TV in Ukraine on how Greeks live today...

I feel sorry for those people.... pitty...

Thu, 03/27/2014 - 08:21 | 4597888 TahoeBilly2012
TahoeBilly2012's picture

One more NATION STATE in the bag for Tribe(tm). Not many left.

Thu, 03/27/2014 - 08:43 | 4597962 RevRex
RevRex's picture

What do the Cleaveland Indians have to do with this, or do you just hate Jews to?

Thu, 03/27/2014 - 10:17 | 4598303 MeMongo
MeMongo's picture

@Rex

Dimon, Blankfein, Geithner, Rubin, Bernanke, Schumer, Frank, Levin, Eisner, Murdoch, Feinsteen, Boxer, Lautenburgh, Weinsteen bros., Rothschild, Greenspan, 

This just off of the top of Mongo's tardo head! Seems to me these aint indians or Amish for that matter :-)

Thu, 03/27/2014 - 08:23 | 4597897 Rakshas
Rakshas's picture

hmmmmmmm.... take the IMFO's fiat buy gold keep in moscow make friends with Putin, join Fucked Over Countries Anonymous and tell Monsanto et al to go pound sand...... fuk it why not...

Thu, 03/27/2014 - 08:29 | 4597914 BigJim
BigJim's picture

 As we said: welcome to IMF vassal state status. Enjoy your hyperinflation dear Ukrainians - at least you will have your "freedom"... just like Greeks have the Euro, if no economy to speak of.

The Ukrainians (and pretty much every Western citizenry) voted for vassal status by voting in 'leaders' who bribed them with spending that could only occur by consistently running budget deficits.

If I max out my credit cards beyond my ability to pay, then, unless I declare bankruptcy, I must accept vassal status to the lenders (yes, I know that in our current system banks create the money out of thin air, but you get my point).

This all wouldn't be so bad if we still had free movement of people, so that the productive could just up-sticks and leave their spendthrift brethren and find a place where governments didn't arrange to enslave their citizens... but that's not the situation.

When you vote for immigration controls, you are, at the same time, voting to allow governments to keep you penned in the hell that they and your fellow voters create for themselves, and everyone else regardless of the way they voted. Enjoy!

Thu, 03/27/2014 - 08:34 | 4597933 Tabarnaque
Tabarnaque's picture

And this is all swiftly negociated with a non-elected, violently imposed government. Quickly make deep reforms before the next rigged election. The Troika's technocrats are busy looting in Kiev.

Thu, 03/27/2014 - 08:36 | 4597941 sessinpo
sessinpo's picture

Sudden Debt      And Ukraine is enslaved by the banks. Sad... more people turned into garbage hunters for food...

I wish they could air on TV in Ukraine on how Greeks live today...

I feel sorry for those people.... pitty...

---

Is the US and most nations the same or a few steps behind? The population let's it happen through ignorance. Government and big institutions are the problem, yet the majority of people continue to support and look for those institutions to solve the problems. They will not pitty us. I empathsize, but don't pitty.

Thu, 03/27/2014 - 08:58 | 4598006 Sudden Debt
Sudden Debt's picture

Sessinpo, yesterday there was a discussion on TV in Belgium where they called for several things to keep our pension systems affloat:

1. Cut pension by 50%

2. Confiscate assets

3. Don't allow self employed people to get a pension

4. Cut all pensions in the future starting from 2050 to zero and let people deal with their own pension.

 

Now, I had my parents over and they where also watching the show. They get about 4000 euro's together in total in pensions. That's more than enough.

They didn't figure out they where talking about them you know. No... it will be my problem, not theirs.

I kind of got mad there for a hour. They really don't give a fuck AT ALL!! Typical for their generation. it's their right to get the money.

No it's not!!!! They got all the privileges!

And what about my kids???

Do you know how much I would need for me and my wife to live 30 years after our retirment from savings????

1.5 MILLION EURO'S PER HEAD!!!

I'm well of BUT NO WAY THAT I HAVE THAT MUCH MONEY!!!

Some people think they're well off but well off means : 5 MILLION IN THE BANKS!!!

And when you have that kind of do in your checking account, you're a 0.01% he!

They where also talking about real estate confiscation. WTF?????

I would have thought it would have made front page today! Guess what!! NOTHING!!! NOTHING IN THE NEWSPAPERS!!!

OBAMA ALL OVER THE PAGE OF HOW GREAT THAT FUCKER IS!

I'm telling you. When I retire, I'm taking my gold and silver to a third world country and I'll live like a king over  there.

You have to be a fool to stay here and be poor.

Man, I'm pissed like all day already with the reactions I got yesterday.

People don't give a fuck about anybody else than themselves.

BUT OH MY GOD!! IF THEY NEED PEOPLE IT'S : WHERE IS EVERYBODY TO HELP ME!!??

 

As a person, I've always been the person who backs the underdog. If somebody kicks a weaker person, I'll help the weaker person. But damn... it's getting pretty hard to be like this in todays day and age because after you help the weaker person he'll jab a dagger right into your back...

Thu, 03/27/2014 - 09:12 | 4598062 Greenskeeper_Carl
Greenskeeper_Carl's picture

Don't feel too bad about your parents not caring, it's the same in the US. My grand parents are pretty well off, not rich by any means, but saved all their lives, and could get by without their social security with only minor life style changes. And it absolutely infuriates me to hear them complain about not getting hardly any increase in their monthly payments. And they are complaining to me about it, who, at 29 years old, will pay into this govt mandated Ponzi scheme all my life, ad not get shit out of it, since it is mathematically impossible for it to exist in anything like its present form for another 40 years. They don't give a shit about that though, they only thing their payments should have gone up a couple hundred more a month, so they can take more vacations.

Thu, 03/27/2014 - 09:19 | 4598078 Sudden Debt
Sudden Debt's picture

SAME HERE GREENS!!

THEY WHERE COMPLAINING TO ME, my parents that is, THAT THEY NOW HAVE A HARDER TIME SAVING MONEY BECAUSE THEIR PENSION ISN'T RISING ENOUGH!!!

They go on vacation 8 months a year, they live in a mansion that I'll never be able to buy, they drive 2 cars, they are on a constant buying spree at the malls...

I mean... THEY GOT EVERYTHING A WORKING PERSON WANTS BUT DOESN'T!!

It's just decadent you know. I have a brother and sister and we both agree but it's like talking to a wall.

They got their perfect health and the luxery to go with it and they keep complaining and complaining and complaining...

and you know what they keep saying to me?

DON'T LOOK AT LIFE SO BLACK J.! IT'S GOING TO FRUSTRATE YOU!

WTF????

Thu, 03/27/2014 - 09:27 | 4598103 GetZeeGold
GetZeeGold's picture

 

 

THEY GOT EVERYTHING A WORKING PERSON WANTS BUT DOESN'T!!

 

It's called socialism.

Thu, 03/27/2014 - 11:31 | 4598684 AbbeBrel
AbbeBrel's picture

Obligatory quote (vetted by Snopes) from Thatcher (sorry if this is a dup or you are tired of hearing it) :

 

 

Margaret Thatcher on Socialism Claim:   Margaret Thatcher once said that "The trouble with Socialism is that eventually you run out of other people's money." 


TRUE


Read more at http://www.snopes.com/politics/quotes/thatcher.asp#ocRjO3g1amtvVZxU.99

Thu, 03/27/2014 - 09:20 | 4598086 dontgoforit
dontgoforit's picture

I know how you feel.  There seems to be only one explaination that addresses all of this:  the satanic take-over of earth.  Think about it.  That explanation covers, greed, avarice, murder and all the other things we see daily.  Satan is hard at work.  The middle east will be the final playing field.  All of this is bubbling into a place where it cannot be stopped.  Prophets have told of it.  People seem to want it to happen.  Suffering for the entire world will be its result.

Thu, 03/27/2014 - 09:26 | 4598101 Sudden Debt
Sudden Debt's picture

I'm not a religous man in that way but I do know how empires like Rome and Egypt fell. People where overgreedy and didn't give a fuck about anything but their gifts from the states.

And we're way down the tipping point already.

Now people think it will crash and recover after a few years but mostly that really takes AT LEAST 70 years!

We'll all be burried before we see a real recovery!

 

Thu, 03/27/2014 - 10:40 | 4598393 Spastica Rex
Spastica Rex's picture

"Overgreedy," interesting word.

Thu, 03/27/2014 - 09:31 | 4598116 IronShield
IronShield's picture

I don't know what kind of parents you had but I wonder about the sacrifices they had to make to raise you to be the productive member of society you apparently are.  My parents, not unlike yours it seems, played the game as it was expected to be played.  And I wouldn't expect them to feel any remorse or desire to alter their lifestyle based on that game changing or coming to an end for future generations.  Sorry kiddo, you were given the tools to be prosperous; now run with it.

As a parent myself, knowing the game has changed, I am prepared, and preparing my offspring for this alternate reality.  I don't, and never will, rely on government or others for assistance except 'normal' expectations or extreme situatons (and even then with intense reluctance).

As to your moving to a 'third world' country, "the devil you know is better than the devil you don't."  But good luck with that if you decide otherwise.

Thu, 03/27/2014 - 09:49 | 4598180 SquirrelButtDan
SquirrelButtDan's picture

I'll be your neighbor in that 3rd world country. :/ :\

Thu, 03/27/2014 - 10:02 | 4598234 Snidley Whipsnae
Snidley Whipsnae's picture

" - earlier today, acting PM announced that the country is on the verge of bankruptcy, a statement which has no hyperbole in it whatsoever."

Too bad their 30+ tons of gold went missing...

Big boating accident?

Thu, 03/27/2014 - 10:10 | 4598268 knightowl77
knightowl77's picture

"And Ukraine is enslaved by the banks. Sad... more people turned into garbage hunters for food...

I wish they could air on TV in Ukraine on how Greeks live today...

I feel sorry for those people.... pitty..."

 

Our day is coming soon. Prepare while you can.....

Thu, 03/27/2014 - 08:14 | 4597868 lakecity55
lakecity55's picture

"I Was a Prisoner of the IMF"

by Boris Ukraine
Illuminated Publishing, 2014

Thu, 03/27/2014 - 08:29 | 4597922 GetZeeGold
GetZeeGold's picture

 

 

Illuminated Publishing

 

Nice touch.

Fri, 03/28/2014 - 02:54 | 4601695 ILLILLILLI
ILLILLILLI's picture

Adam Weishaupt, Proprietor

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