Russia adds pressure to Ukraine with predictions of default | beyondbrics #Yalta2013

Russia adds pressure to Ukraine with predictions of default | beyondbrics:

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Sergey Glazyev piles on the pressure

An advisor to Russia’s president warned that Ukraine’s already troubled economy would need a $35bn bailout to avoid default if it signs a free trade and association pact with the EU this November, in a clear sign of fresh pressure on Kiev to back away from western integration and instead join a Moscow-led customs union of former Soviet republics.

Speaking this weekend at the 10th annual Yalta European Strategy conference sponsored by Ukrainian billionaire Victor Pinchuk, Vladimir Putin’s aide Sergey Glazyev (pictured above) said Ukraine’s trade balance would turn catastrophically negative as local producers would struggle to compete with higher quality EU goods flooding the country.

Glazyev reiterated previous Russian threats to permanently introduce tighter controls and possibly trade barriers at the Ukrainian border, explaining that such measures would be needed to protect EU goods from further flowing into Russia via Ukraine."

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