“As the economist Michael Roberts notes, “the people of Ukraine are left with Hobson’s choice: either go with KGB-led crony capitalism from Russia or go with equally corrupt pro-European ‘democrats’”.
Roberts predicts that Ukraine’s foreign debt is about to double, “as it takes on new debt from the IMF and the cost of existing dollar and euro-debt jumps as the hryvnia is devalued”. It hardly comes as a surprise to us in former Yugoslavia. At the beginning of its dissolution, the Yugoslav foreign debt was £9.5bn; today, after all the “help” we got from the troika, it’s more than £107bn.
In their struggle to overcome Russian occupation and survive all the Trojan horses from the institutions of global capitalism, it is to be hoped that people in Ukraine learned a thing from the war in Bosnia – that a deus ex machina from the west will never land . . . .”