An economic downward spiral of death is gripping Ukriane…oddly enough, though quite expected, no western main stream media is reporting the meltdown.
Victoria Nuland said “F**k the EU”…maybe she should have said ‘F**k the EU and Ukraine’ right before she went on to the Maidan to pass out cookies to her little minions orchestrating the coup that would open the way to IMF and EU plundering.
In the last year since the Maidan forty-six banks have gone bankrupt, according to the Managing Director of the Ukrainian Deposit Insurance Fund Konstantin Woruschilin.
In a recent interview with the Ukrainian news agency UNIAN, Woruschilin said that the Deposit Insurance Fund of Ukraine will not be able to repay people their losses and will have to rely on the external funding from the EU and, in particular, European taxpayers…F**k the EU indeed!
How European taxpayers are now stuck with the bill to bail out the non-EU member state of Ukraine is beyond logic. EU policy has morphed into forcing its citizens to pony up their cash for their leaders’ spineless loyalty to Washington dictate.
Sputnik News Agency Reports…
He [Woruschilin] explained that there are several reasons for the mass bankruptcy of Ukrainian finance institutions. First of all, it is “the immoral behavior of bank managers”. According to Woruschilin, bank employees had been stealing the money and used it for their own purposes.
The second reason is the drop in exports, the consumption decline as well as high production costs, Woruschilin said.
The Deposit Insurance Fund makes every effort to repay Ukrainians their losses. However, the financial resources of the fund are insufficient, reaching a total of 16.1 billion dollars as of April 1.
In order to meet its obligations to the banks’ customers, the fund will have to rely on external funding. According to the German magazine “Deutsche Wirtschafts Machrichten”, the main burden will ultimately fall on the EU taxpayers who will have to pay for the mismanagement in the Ukrainian banking sector.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.