‘West’ is Not the Charity Business: There’ll Be Hell to Pay for Ukraine

‘While Kiev declares that it would not repay Russia’s $3 billion loan or even seize Russia’s assets in Ukraine, such moves may deal a heavy blow to the very foundations of international law, US economist Michael Hudson warned.

Regardless of the speculations that the forthcoming Ukrainian default will be just “technical,” not an “official” one, Michael Hudson, a research professor of economics at University of Missouri, Kansas City, insists that the euphemism of “technical” default bears no relation to reality — “a default is a default,” the economist states.’

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