On top of all its other problems, Ukraine is at risk of a financial meltdown. A question remains, however: What form would it take? Presumably it would be reminiscent of the Russian financial crash of August 1998—with default, high inflation, a frozen banking system, falling output, and panic. The three critical factors at play in the country today are shrinking international reserves, a falling exchange rate, and a collapsing banking system. These factors would unleash high inflation and plunging output, which would devastate the economy and standards of living.
The earth from the trenches is freshly dug and the concrete of the newly-installed pillbox blemishless. The metal cage that protects it from rocket-propelled grenades is already covered in a thick layer of ice.
It began -- appropriately for our times -- with a post on a young man's Facebook page. It grew into a revolution that overthrew a president. And it was followed by an undeclared war that rages to this day.
Washington - The US military has delivered three radars to Ukraine designed to detect incoming mortar fire, the Pentagon said Friday, Nov. 21, amid appeals from Kyiv for Washington to send weapons to help fight pro-Russian rebels.
Ukrainians on Nov. 21 gathered to remember the beginning of the protests, which began in the country's capital a year ago and toppled Ukraine's former president Yanukovych. Students with national flags and the EU symbols have also taken to the streets in Chernivtsi and Ternopil in the west of the country, beating drums and chanting patriotic slogans.
Mikhail Gorbachev has said Vladimir Putin thinks of himself as "second only to God" after complaining the Kremlin leader never seeks his advice.
Traveling to Venice next year? Leave your rolling suitcase at home.
Venice's city council is considering a ban on rolling suitcases with hard wheels, according to Italian newspaper Il Gazzettino. The council said residents are frustrated with the noise pollution that suitcase wheels make on cobblestone streets.
Pizza Hut has just started a major rebranding effort.
Headlined the "Flavor of Now," the campaign aims to give a much-needed boost to Pizza Hut's U.S. business by wooing customers with dozens of new pizza options.
Head of Ukraine's Security Service Valentin Nalivaichenko has recommended the parliament to establish criminal responsibility for denial of 1932/1933 famine in Ukraine, known as Holodomor, and to ban the Communist Party, the security agency's press service said on Friday, Nov. 21.
F1 championship leader Lewis Hamilton feels like a "kid at Christmas" thanks to the dominance of his Mercedes car which was underlined again Friday, Nov. 21 as he set the fastest time in both practices for the Abu Dhabi Grand Prix.
Ukraine's defense minister said that 7,500 Russian troops are present in the east of the country, which has been witnessing months of violence between the pro-Russian separatists and the government troops. The statement, from Colonel General Stepan Poltorak comes as four Ukrainian soldiers have been reported dead and 10 others injured in the past 24 hours.
Europe is not at risk of sliding into "full deflation" but the current rate of inflation is dangerously low, European Central Bank Vice President Vitor Constancio said on Saturday, Nov. 22.
In a move that could tip the balance of the Ukrainian conflict in favor of the Russian-backed separatists, Russia is sending a unit of advanced interceptor fighters to an airbase close to the Ukrainian border. Operating from there, the Mig-31 fighter jets would be able to survey airspace well inside Ukraine without actually flying over the country, and alert separatists on the ground of any movements by Ukrainian airplanes.
Pro-Russian separatists increased the intensity of attacks on Ukrainian troops in the country's embattled east, a military spokesman said, as the U.S. sent anti-mortar radar systems to aid the fight against rebels.
Russia is believed to have been mobilising MiG-31 fighter jets and radar stations located close to Ukraine's eastern border, stoking fresh tensions in the region.
A strong earthquake shook central Japan's Nagano region on Saturday night, Nov. 22 injuring several people and collapsing a building in area village, the country's Kyodo News Agency reported, citing firefighters.
The Euromaidan protests in Ukraine began a year ago today and continued for months, through the long winter of 2013-14. During the days of waiting and of celebrating people's power on Kyiv's Independence Square, the world had the chance to meet many ordinary Ukrainians as well as political leaders and celebrities who joined in the protests.
Western sanctions against Russia over its role in Ukraine are aimed at forcing regime change in Moscow, Foreign Minister Sergei Lavrov says.
As rebels in eastern Ukraine exchange further gunfire with government troops near Donetsk, a war of words between Moscow and the West is escalating.
Ukrainian President Petro Poroshenko has compared the Holodomor of 1932-1933 with an undeclared war against Ukraine in 2014 calling it a continuation of the imperial genocide against the Ukrainian people.