Ukraine President Poroshenko
Mark Varga, National Interest: Exposed: Ukraine's Massive Witch Hunt
Tackling corruption, or an old-fashioned purge?
It has become somewhat of a cliché to say that Ukraine is Europe’s most corrupt country. While the the IMF agreed on February 12 to extend to Kyiv a new $17.5 billion rescue package over four years in exchange for continued structural reforms, the real question is if staving off the country from an imminent default at the hands of international creditors (read, Russia) would be enough. Why? Because one of the unanswered questions for Kyiv’s leaders is whether they have the mettle to deal with the country’s public enemy #2: corruption.
WNU Editor: Kudos to the National Interest for posting this story .... most Western outlets for their own reasons have refused to acknowledge this growing injustice. If you are a Ukrainian-Russian employed by the Ukraine government or by any of its state companies .... it is a guarantee that you will soon find yourself unemployed or .... having zero prospects for advancement. And while I do understand the need to purge corrupt officials and bureaucrats .... I know that it is not being employed in such a matter. The review of property holdings is also a frightening development .... one in which is having a direct impact on my relatives in Kiev. They own a number of commercial properties a block away from the Maidan .... bought on the open market using funds borrowed from Ukraine and foreign banks almost 20 years ago (fortunately these loans were paid off a few years ago). But even though they have clear title paid for properties that were purchased on the open market .... they are being subjected to these reviews. To say that they are nervous is an understatement .... because from their experience they know that much of these decisions are usually based on "expecting to be paid off" or finding yourself in the courts facing a judiciary that is in itself corrupt. As I always am telling people who are interested in investing in Ukraine (especially now because of the collapse of the currency) .... corruption has always been an endemic part of Ukraine society .... it will touch you even if you try your best to avoid it.
On a personal note .... of all the cities in the world that I have visited and/or lived in .... Odessa is on the top of the list .... and it has just been brought to my attention that a home that I have always admired is now up for sale at a ridiculously low price (no surprise there .... the Ukraine currency has collapsed, so foreign currency is king). It is on the Black Sea .... and I cannot adequately explain how beautiful the building and location is. And while I am definitely tempted to take the plunge .... in view of the utter chaos in the country .... and in view of what I have just stated in this commentary .... would it be a smart move? Sighhh .... this is why I hate what is happening in Ukraine right now .... people's lives are being impacted on every level .... from those who have lost loved ones in this war and who will forever suffer because of it, to little old me who now sees his dream home up for sale .... but who is afraid to take the risk.
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