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23.10.2015

Letter of Minister-Counsellor of the Russian Embassy A.Kramarenko to the “Financial Times”

Letter of Minister-Counsellor of the Russian Embassy A.Kramarenko to the “Financial Times”

Dear Sir,

With all my respect for Martin Wolf I cannot agree with his narrative on financial assistance to Ukraine (Opinions, 21 October). Still, the issue is at the core of how the EU, or rather Brussels bureaucracy, mishandled its presumably transformative policy towards that country.

It was clear to independent observers that the cost of bringing Ukraine to EU standards by way of the Association Agreement (plus a Deep and Comprehensive FTA) would be huge. President V.Yanukovich, when confronted with this reality, calculated it to be roughly $ 20 to 30 bin a year over the period of 8 to 10 years, for the implementation of both would mean getting rid of the entire Soviet-time industrial base. It seems to be a fair assessment.

The EU, however, chose to press ahead with what some call expansionism on the cheap, willing to provide only technical assistance. That is why the entire project has never been subject of a thorough and public debate. Otherwise, the issue of the cost would have come up. What is more, Russia was supposed to bear much of the economic burden of 'soft landing5 Ukraine.

Against this background the issue of Russian Government loan looks a pittance, almost as irrelevant as the whole Western strategy of managing that country unilaterally, in spite of and against Russia. As to the origins of the situation, Martin Wolf writes that it has nothing to do with Russia and everything with 'two decades of gross corruption and incompetence'.

As to money, why not print it for Ukraine. After all, Western Governments printed a lot as QE to help tie up to something tangible the value created by way of 'financial alchemy' over the same two decades.

 

Yours truly,

Alexander Kramarenko,

Minister-Counsellor, the Russian Embassy


http://on.ft.com/1KttOIT




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I NOTE a rather questionable article by Mark McLaughlin (“Russians lurking near Faslane to eavesdrop on nuclear submarines", The Herald, July 11). Do you really believe that 145 million Russians would elect a leader who would command his nuclear submarines to chase someone\'s sole and lonely operative U-boat which is firing missiles in the opposite direction or Type 45 destroyers with faulty engines or an aircraft carrier without aircraft on it, all of them being located in Scottish waters?



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