A chara, – It is reported that the finance minister in the so-called government of Ukraine, Natalie Jaresko, has announced that Ukraine will default on its repayments to the IMF unless there is agreement on Ukraine’s proposals for a restructuring (including debt write-down) of its international debts. Ukraine, of course, is essentially bankrupt. The creditors, she said, have a moral imperative to agree to such a deal.
The IMF’s willingness to discuss these proposals stands in stark contrast to its position, and that of the troika, in respect of Greece. Greek assertions that the creditors have a moral imperative to help restructure Greece’s debt burden in a way that allows Greeks to live have fallen on deaf ears.
The difference, of course, is clear. Ukraine is a willing pawn in the US campaign against Russia, while any precedent regarding Greece will only encourage anti-austerity forces throughout Europe. – Is mise,
EOIN Ó MURCHÚ,
Cluain Dolcáin,
Baile Átha Cliath.