I read the April 10 letter from Russian President Vladimir Putin to European leaders with some shock. It is long,
therefore the answer needs to be long too.
Vladimir Putin: Ukraine’s
economy in the past several months has been plummeting. Its industrial and
construction sectors have also been declining sharply. Its budget deficit is
mounting. The condition of its currency system is becoming more and more
deplorable. The negative trade balance is accompanied by the flight of capital
from the country.
Paul Niland: All of the above is true. More or less. Stating these things
without even starting to analyze the causes, though, is a bit naughty, to say the
least, right? Ukraine’s economy has plummeted in the past several months,
because the citizens of the country were engaged in removing from office a
deplorable and thoroughly corrupt tyrant who attempted (quite pointedly on
Jan. 16 and Jan. 29) to turn Ukraine in to a
dictatorship. This has caused a little uncertainty, to say the least, and uncertainty
is NOT good for business. But, we are getting much better now the dictator has
gone, thanks. Last thing, you mention capital flight, are you not confusing a
report on Russia’s own economy and mistakenly thinking it was a comment about
Ukraine you were reading? Ok, mistakes happen. No harm done.