Ukraine has crossed into the red by many parameters (such as the CAD and gross reserves), and under normal conditions would have already experienced many unpleasant consequences. But the world is changing: investors don’t seem to see a QE3 program running at full tilt, ailing industry, a CAD above 8% GDP, and the expired IMF program as problems. So our alternative scenario now looks less dramatic, at least in the short term. More about economic perspectives, please, read at our last quarterly report “Surviving on QE3”. The full report could be obtained through subscription at Global Source (www.globalsourcepartners.com). Trial access is available.