The past month has brought nothing but bad news. The shocking incident in which Yulia Tymoshenko was beat up in jail was just another hit to the already-spoiled reputation of the ruling group, and Ukraine as well. Now even German Chancellor Angela Merkel has compared Ukraine with Belarus, and called the current regime a dictatorship. To make things worse, the economy keeps cooling, and fiscal statistics are signaling possible problems. We still expect the ruling group to maintain stability until the October elections, at whatever cost. But there are big uncertainties for the period beyond. More about recent tendencies you can read in our new report “Unhappy Endings”. The full report could be obtained through subscription at Global Source (www.globalsourcepartners.com). Trial access is available.