Ukraine is fighting for its future, not only to be rid of Russian incursion, but also its existence as a sovereign state. Its economy is shrinking, corruption is endemic and government finances are in such disarray that there is a grave risk it will default on its debt. The consequences for the European Union and its taxpayers are serious should a bailout become necessary.

THE viability of Ukraine as a sovereign state is being watched closely all over Europe; not just in Brussels, but in Athens, Bratislava and, most of all, Berlin.

Any suggestion of financial default by, or bailout of, Kiev sends shivers through European Union capi...

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Professor Stefan Hedlund
Many outside the country have good reason to ask if those who drove the system to ruin can be trusted to push for reform
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