A Moment of Truth

A few things have become clear. The Ukrainian authorities will promise anyone anything to get money and break its word without blinking an eye. Moreover, the West, which wants a viable and stable Ukraine in its own interests, now understands this and is beginning to act accordingly. This poses those interested in helping Ukraine a fundamental dilemma: when does help stop helping and becomes simply a subsidy for a corrupt system that is nonviable in principle?

Nobody has a good answer to that one. The Ukrainian state has dug itself into such a hole that nobody in authority has the least idea of how to get out. Should the loans and foreign aid stop, the country would almost immediately be on its knees. In addition, those making the decisions, schooled in Soviet political economy, often have no idea of Western economic scholarship, how the outside world economy really works, or even why Ukraine has to adapt to that economic system. Combine this with a wavering President who usually sides with whomever he heard last, and the situation becomes clearer. The outside world simply cannot and will not subsidize such aimless drifting forever.