another_liberal
another_liberal's JournalCell phone camera footage of fighting in eastern Ukraine.
These eye-witness film clips were taken by Separatist fighters involved in yesterday's capture of a town near the strategic government stronghold of Debaltseve.
Kiev allows its currency to free-float in value.
A divided Ukraine in the midst of a devastating civil war has decided it no longer has the foreign currency reserves necessary to intervene in support of the value of its own currency. The hryvnia went into free-float in value against foreign currencies, and lost a third of its worth within days. In the face of this kind of collapse can we in good conscience continue to encourage Kiev's gruesome war against its own people? Isn't it about time a serious, unconditional offer to begin autonomy negotiations was made to the Separatists?
Banknotes of Ukrainian hryvna (Reuters)
Ukrainian hryvnia in free fall after Central Bank scraps currency support.
The hryvnia lost 34 percent against the US dollar after the head of the central bank signaled it can no longer support the currency with regular interventions and will allow greater fluctuations. The hyrvnia hit a historic low of 24.5 per 1 USD. “Get used to market volatility," National Bank of Ukraine (NBU) Governor Valery Gontareva told reporters in Kiev on Thursday.
With foreign exchange reserves at only $7.5 billion, the central bank “is changing its approach to monetary policy, while strengthening its rigidity,” according to a statement published Thursday. After the policy shift announcement, Ukraine’s hryvnia fell to 24.5 against the dollar and 28.092 against the euro.
The bank also announced an unexpected interest rate hike to 19.5 percent from 14 percent, in a move to try and mend the worsening economic situation. Foreign exchange reserves are at a ten-year low of $7.5 billion, down more than 60 percent since last year. In December reserves stood at about $10 billion. "It's more about economic failings and the war situation at this stage. Interest rates won't make any difference just as they are not in Russia,” Simon Quijano Evans head of emerging markets research at Commerzbank in London, told Reuters.
The National Bank of Ukraine (NBU) decided to scrap the indicative exchange rate on Monday. The NBU started $3 million currency auctions in November 2014 to establish the indicative rate serving as a benchmark for banks after the currency lost 50 percent against the dollar.
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Read more at: http://rt.com/business/229607-ukraine-hryvnia-free-fall/
IMF not willing to pay for Kiev's civil war.
When the international mega-bankers turn their backs on their own expansionist project, you know the prospective borrower is really busted! Looks like American taxpayers will soon see a big increase in our share of the bill for keeping Ukraine afloat, and its so-called "anti-terrorist operation" operating.
(Reuters)
IMF wary of providing Kiev with extra bailout funds
The International Monetary Fund seems to be getting cold feet about providing Ukraine with more financial aid. With the country teetering on default, funds are desperately needed, but the organization is wary of exposing itself to more debt.
In April, the International Monetary Fund (IMF) pledged $17 billion to Ukraine, which was almost two-thirds of the $27 billion given to Kiev from backers that included the United States and the European Union. However, with Ukraine now in need of new loans in the region of $15 billion, the monetary board doesn’t want to provide more than two-thirds of any new loans and is circumspect due to the lack of any economic growth in the country. “Ukraine from the beginning has been a political issue, not an economic issue,” said Andrea Montanino, who was formerly Italy’s representative to the IMF, as reported by Bloomberg.
The IMF arrived in Ukraine in January for talks on providing Kiev with extra funds. In an interview with the French newspaper Le Monde on January 26, the head of the IMF Christine Lagarde said the fund would provide financial assistance to Ukraine only when the situation in the country is stabilized. According to Lagarde, when the IMF gave financial support in the spring of 2014, experts expected the unrest in the East of the country to end by the winter. This has not proven to be the case, with the conflict still raging in the Donetsk and Lugansk regions of Ukraine.
Neither Kiev nor the IMF has said how much Ukraine has requested, however Montanino says he believes the fund will provide between $5 billion and $6 billion. With new loans in the region of $15 billion needed, this would put pressure on the US, the EU and other institutions such as the World Bank to come up with the remaining $9 billion to $10 billion. Since the New Year, Kiev has already received pledges from the EU to provide €1.8 billion ($2.05 billion) and an extra $1 billion from the US, bringing Washington’s total commitment to $2 billion to Ukraine in aid. Kiev's public debt is growing at a pace much faster than the IMF expected. The sovereign debt of Ukraine could reach 90 percent of GDP in 2015, according to the FT. The IMF estimates this level of debt as unsustainable.
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Read more at: http://rt.com/news/229515-imf-ukraine-economy-aid/
Advancing Ukraine rebels appear to capture frontline town.
Source: Reuters
(Reuters) - Pro-Russian rebels appeared to be in full control on Wednesday of one of the towns that has been a principal target of their advance, as they attempt to surround a nearby garrison of Ukrainian forces. The apparent fall of the town of Vuhlehirsk would be a setback for Kiev, which has been trying to defend it and the larger neighboring town of Debaltseve, an important rail hub, from encirclement by advancing rebels. A military spokesman in the capital said Vuhlehirsk was still contested. But Reuters journalists on the ground were freely able to enter about 60 percent of it and saw no sign of areas controlled by Ukrainian troops. Rebels patrolled casually and were in a boisterous mood, using positions in the town to fire artillery on Debaltseve.
Kiev's Western allies are alarmed over the rebel advance in recent weeks, which scuppered a five-month-old ceasefire. U.S. Secretary of State John Kerry is due to visit Kiev on Thursday amid talk that Washington might begin to provide weapons to the Ukrainian government for the first time.
In Vuhlehirsk, shattered from the combat, metal worker Sergey Kopun, 50, dressed in dirty blue overalls, walked out from a cellar where he had been hiding for days with his wife and quadriplegic mother. "Someone should come to remove these corpses, it is inhumane to leave them here to rot," he said. About 300 meters (yards) away at least four bodies of soldiers with Ukrainian shoulder patches were scattered inside a garden of what appeared to be a restaurant. "They had a good firing point here. We had to use anti-tank weapons to blast our way into this garden," said a rebel commander in his 50s who gave his name as Ironside.
The town, with around 9,000 people before the war, has been one of the main targets of the rebel advance, sitting in a pocket of government-held territory surrounded on three sides by rebel territory and straddling road and rail routes linking major rebel strongholds. Ukrainian forces are still holed up in neighboring Debaltseve, a major rail town of about three times the size and an important stopping point for goods traffic by rail from Russia. Taking the two would link up the main rebel strongholds of Luhansk and Donetsk.
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Read more: http://www.reuters.com/article/2015/02/04/us-ukraine-crisis-hospital-idUSKBN0L80Y320150204
As the map I linked to (below) shows, capturing Vuhlehirsk puts Separatist fighters only about five miles from the last remaining supply route for thousands of Ukrainian troops still holding Debaltseve, the Separatists' primary target in this offensive. That is no distance at all for even medium artillery to reach.
Vuhlehrisk is at the center of the map. Expand out to see the town's proximity to Debaltseve, Donetsk and Lugansk.
https://www.google.com/maps/place/Vuhlehirs'k,+Donetsk+Oblast,+Ukraine,+86481/@48.3122305,38.2770321,14z/data=!3m1!4b1!4m2!3m1!1s0x40e06e7423a552a9:0xd3d6af7bf81d28f7
Some details of current fighting in eastern Ukraine.
These are some details of the horrific fighting we are now planning to further encourage by supplying lethal weaponry and American trainers to the Ukrainian Army. Why has the World not imposed a complete ban on weapons sales and transfers to both sides of this pointless, un-winnable war? Why are we not expending half as much effort and expense on trying to bring the two sides together for peace talks as we are on assuring that Kiev's war-mongers have all they need to continue the killing and destruction?
Ukrainian medics unload a wounded soldier from an ambulance outside Artyomovsk hospital, Feb. 2.
Ukraine throws reinforcements at Debaltseve, separatists vow to escalate war.
ARTYOMOVSK, Ukraine -- A flight of five of Hind Mi-24 attack helicopters churned through the afternoon sky on Feb 2, speeding low over the road into Artyomovsk's center as Ukraine’s army sent a huge column of reinforcements streaming towards its besieged positions in Debaltseve. A column of armor, artillery and troop transports nearly a kilometer long could be seen rumbling down the road from Ukraine’s headquarters at Kramatorsk to Artyomovsk, a city of 75,000 famous for its sparkling wine and salt mine, some 30 kilometers north of Debaltseve’s strategic rail and road junction.
Ukraine’s hold on the area had looked precarious on the night of Feb. 1, with one Ukrainian National Guard unit even complaining they had been abandoned because other units had fled the city after separatist forces reached the outskirts. Army generals appeared to have responded on Feb. 2 with reinforcements, but it may yet prove too little, too late for the thousands of Ukrainian soldiers battling to repel the Russian-backed forces’ offensive at Debaltseve. They now find themselves surrounded but for a single supply road under constant threat of attack.
Military officials were tight-lipped about the battle, with Ukrainian army spokesperson Colonel Andriy Lysenko refusing to comment beyond “all attacks were repelled” and initially denying Ukrainian choppers were in the air. When informed the helicopters had been caught on camera, he told the Kyiv Post: “I can’t comment on that, but I can tell you that Ukraine only uses helicopters for transporting wounded, they don’t attack people.”
Fighting was particularly heavy in the village of Vuhlehirsk, a village 10 kilometers west of Debaltseve. Pro-Ukrainian forces had lost control of the village on Jan. 30, allowing separatist artillery to get within range of Debaltseve’s supply road, but pushed back over the weekend to deny the insurgents full control of the area.
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Read more at: http://www.kyivpost.com/content/kyiv-post-plus/ukraine-throws-reinforcements-at-debaltseve-separatists-vow-to-escalate-war-379262.html
Britain's Osborne says Greek stand-off biggest risk to the global economy
Source: Reuters
(Reuters) - British finance minister George Osborne said on Monday that a stand-off between Greece and the euro zone over Greek debt was fast becoming the biggest risk to the global economy.
"We had a constructive discussion, and it is clear that the stand-off between Greece and the euro zone is the greatest risk to the global economy," Osborne said after meeting Greek Finance Minister Yanis Varoufakis in London.
"I urge the Greek finance minister to act responsibly but it's also important that the euro zone has a better plan for jobs and growth," Osborne said.
"It is a rising threat to the British economy. And we have got to make sure that in Europe as in Britain, we choose competence over chaos."
Read more: http://www.reuters.com/article/2015/02/02/us-greece-politics-britain-idUSKBN0L616220150202
I imagine he actually meant the Greek debt standoff is the "biggest risk" to a bunch of British plutocrats' money. Osborne is worried about his prime supporters' billions being lessened on his watch. Now that is a serious problem!
Is President Obama admitting we caused overthrow of Ukraine's government?
I'm all for openness and truth on the part of American leaders, but the comments our President recently made in regard to the overthrow of Ukraine's democratically elected government one year ago set a new standard for frankness. It is difficult to imagine how one can interpret his statement except to conclude he is admitting our government interfered most intrusively in the internal affairs of Ukraine, something we were treaty-bound not to do.
US Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland (R) and US Ambassador Geoffrey Pyatt (Reuters)
Obama openly admits 'brokering power transition' in Ukraine
In an interview with CNN’s Fareed Zakaria, Barack Obama acknowledged that the United States had "brokered a deal to transition power in Ukraine," thus admitting to a high level of democratic impropriety. Before we consider Obama’s revealing remarks, and how the Ukrainian people sold their country for a song, let’s rewind to November 2013, when then-President Viktor Yanukovich had shocked western capitals - and, more importantly, western markets - by suspending plans for an association agreement with the European Union. As if on command, thousands of Ukrainians suddenly poured into the streets of Kiev to protest the decision. Such a rapid reaction should not have come as a surprise. After all, a multitude of US government agencies – most notably, USAID - had been operating in Ukraine since the collapse of the Soviet Union, investing billions on its latest "democratic" pet project.
This is no conspiracy theory. On December 13, 2013, Assistant Secretary of State Victoria Nuland, following her third trip to Ukraine in five weeks, told the National Press Club: "Since Ukraine's independence in 1991 the United States has…invested over $5 billion to assist Ukraine in needs and other goals." Exactly what those "other goals" may have been, and who helped underwrite them, seem rather obvious today.
Although many are tempted to believe otherwise, governments don't normally spend such prodigious sums of money in a foreign land unless it expects to get something hefty - in this case, Kiev’s loyalty - in return. Governments are by nature political opportunists, not philanthropists, which is precisely why Russia gave USAID the boot in 2012. Ukraine did not, and was forced to pay the piper, so to speak. We should note here that it was not just US taxpayer dollars that unwittingly provided the funds to support the coup d’ etat in Ukraine. In another softball interview with CNN’s Zakaria, billionaire George Soros last May coolly admitted: “I set up a foundation in Ukraine before Ukraine became independent of Russia. And the foundation has been functioning ever since and played an important part in events now.”
Certainly those billions of dollars weren’t spent just on humanitarian work, like distributing pastries to the Ukrainian rabble gathered on Independence Square. After all, the crucial question as to who would lend Ukraine a multi-billion dollar rescue package was the elephant parked on Maidan that few talked about. Once upon a time, western financial institutions had the market cornered on the lucrative task of bailing out cash-strapped countries. Today, however, other economic agencies - BRICS for example - are able to compete with the IMF. But after Kiev exploded in chaos and violence, the regular lender of last resort bagged itself another national trophy for above its fireplace.
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Read more, and view video of the President's remarks, at: http://rt.com/op-edge/228379-obama-power-transition-ukraine/
Ukrainian Right Sector party leader exposed as extortionist and thief.
The hacksters of CyberBerkut have landed a blow at the Ukrainian neo-Nazi "Right Sector Party." The vocal and visible group's leader is revealed by the hactivists' findings to be basically a crook out to steal all he can from the Ukrainian people. Note that the article below also quotes an independent corruption watchdog group that still ranks Poroshenko and Yatsenyuk's government as the most corrupt in Europe and among the most corrupt in the World.
Dmitry Yarosh (RIA Novosti)
Hacktivist leak alleges 'extortion & money laundering' by Ukraine’s Right Sector leader
Anti-Kiev hacking group CyberBerkut has released legal documents allegedly obtained from the office of Ukrainian far-right politician and warlord Dmitry Yarosh, which it claims implicate him in a host of economic crimes. “We are publishing documents that expose the criminal activities of the head of Ukrainian neo-Nazis, which confirm multiple incidences of extortion – the illegal and cynical seizure of properties and businesses belonging to Ukrainian citizens by Yarosh and his associates. The stolen money is then taken out of the country through fronts and deposited in offshore accounts,” reads an unsigned document that accompanies a series of document scans on the CyberBerkut website. “Now everyone will know that Yarosh and his band of neo-Nazis are just using politics as a cover for their criminal activities and personal enrichment at the expense of ordinary Ukrainians.”
As well as posting a supposed scan of Yarosh’s passport and other private documents, as proof of their break-in, the hackers have uploaded several contracts for the purchase and lease of property, which they say were signed under coercion. They also posted three compressed files of other scans. None explicitly feature Dmitry Yarosh’s name, but one of the companies in question belongs to Sergey Yarosh – though the connection between the two men is unclear. Yarosh, who is wanted by Interpol on charges of inciting terrorism, was elected to parliament in October 2014. He played a key role in the protests on Maidan (Kiev's Independence Square) that resulted in the toppling of Viktor Yanukovich’s government earlier that year.:
Badge of the CyberBerkut hacktivist group.
CyberBerkut is named after Berkut, the government special force unit deployed to restrain the protesters. Operating under the motto “We won’t forgive! We won’t forget!,” the online group has targeted high-profile figures in the new government. As well as posting the private documents and conversations of top politicians, including Yulia Tymoshenko, it has shut down high-profile websites – including those belonging to NATO – with distributed denial of service (DDOS) attacks.
If confirmed, the latest allegations will fall in line with the high level of corruption inside the country’s ruling class. In December 2014, Transparency International named Ukraine the most corrupt country in Europe, coming in 142nd out of 175 countries in the worldwide ranking. This is a title it retained from the previous year – despite the new Ukrainian leadership staking their reputation on cleansing out what President Petro Poroshenko, himself the subject of several lengthy financial scandals in his role as the 'Chocolate King,' has called the “paralyzing” corruption of the Yanukovich era.
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Read more at: http://rt.com/news/228387-ukraine-hacktivists-leak-yarosh/
East Ukraine death toll mounts after peace talks fail
Source: Reuters
(Reuters) - Thirteen Ukrainian soldiers and at least seven civilians have been killed in fighting in the past 24 hours, Kiev authorities said on Sunday, reporting widespread clashes with Russian-backed separatists a day after peace talks collapsed. "Fighting continues across all sections of the frontline," Kiev military spokesman Volodymyr Polyovy said in a briefing. The civilian and military death toll has mounted in the past two weeks after rebels launched a new offensive. Hopes of de-escalation evaporated on Saturday with Ukraine's representative and separatist envoys accusing the other of sabotaging negotiations.
Clashes are intense around the town of Debaltseve, he said, referring to a Kiev-held transport hub connecting the two main rebel strongholds that separatists aim to cut off. "There is no question of encirclement or cutting off of the main communication lines...the situation is under control," he said.
The Interior Ministry said on Sunday a further seven civilians had been killed in shelling on Sunday of the town, which has been cut off from power and water supplies for days. In rebel-held Donetsk, a Reuters witness saw the body of a young man stretched out on a street in the city center, killed when a shell struck a wall nearby. Nadezhda Petrovna, 68, a neighbor, said the man was trying to run away from the attack when a shell landed in front of him. "It is like this every day, people are getting killed, we are sleeping fully dressed so we can run into the cellar, this is becoming unbearable," she said.
Ukraine, Russia and separatist envoys met for peace talks under the auspices of the Organization for Security and Cooperation in Europe in Minsk, Belarus, on Saturday. But the talks ended without any agreement for a new ceasefire and with Ukrainian and separatists reproaching each other for undermining the talks.
Read more: http://www.reuters.com/article/2015/02/01/us-ukraine-crisis-casualties-idUSKBN0L51AB20150201
Ukraine sent a retired politician to Minsk as its representative, but he had orders to negotiate with no one except the actual leaders of the breakaway republics of Lugansk and Donetsk? What difference does that make? Why was there such an effort to find some technical reason to again break-off negotiations? The fighting will not end until they talk.
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