Ukraine signs deal with European Union

[unhappycamper]

http://www.latimes.com/world/worldnow/la-fg-wn-eu-ukraine-memo-20140321,0,4571475.story



Ukrainian Prime Minister Arseny Yatsenyuk, right, chats with British Prime Minister David Cameron, middle, and Swedish Prime Minister Fredrik Reinfeldt during a signing ceremony at a summit in Brussels.

Ukraine signs deal with European Union
By Henry Chu
March 21, 2014, 8:16 a.m.

LONDON -- Ukraine sealed a deal Friday to draw closer politically to the European Union, firmly looking to the West for guidance and support even as Russia pulled the contested Crimean peninsula eastward.

The pact revives an agreement that Brussels offered the government in Kiev several months ago but that the then-president of Ukraine jettisoned at the last minute in favor of closer ties with Moscow. The abrupt turnaround touched off months of protests, the toppling of the former president and Russia’s incursion into Crimea.

The signing of the EU deal risks further angering Moscow, which sees a European-leaning Ukraine as a threat. But acting Ukraine Prime Minister Arseny Yatsenyuk brushed aside any concern and hailed the agreement.

“Frankly speaking, I don’t care about Russia (in) signing this deal. I care about Ukraine, Ukrainians and our European future,” Yatsenyuk said. “This deal meets an aspiration of millions of Ukrainians that want to be a part of the European Union.”

[dipsydoodle]

1. EU also increassed aid amount to c. $2 billion

That's freely given - not a loan so has no effect on Ukraine's Debt:GDP ratio.

The November talks collapsed when the EU offered $1 billion only to Yanukovych with no mention of loans despite the fact it was already clear Ukraine need c. $8 billion to get them through to this autumn.

As far as actual EU membership is concerned they can dream on - loans will push their Debt:GDP ratio way out of reach of that for the foreseeable future.