Go Back   Ukraine.com Discussion Forum > Society > Business


Ukraine acceptance of "Smart Money"

LinkBack Thread Tools Search this Thread Rate Thread Display Modes
  #1 (permalink)  
Old 3rd February 2014, 11:30
Gotno Gizmo Gotno Gizmo is offline
Registered User
Join Date: Mar 2010
Posts: 1,439
Gotno Gizmo is on a distinguished road
Ukraine acceptance of "Smart Money"

It is a likely possibility that if Ukraine finds itself dependent on EU or USA money in order to stave off financial bankruptcy for any reason, that receiving such funds will not be without strings attached. Because of western governments financial problems, loans or development grants would be inadequate. I believe the most part of the money being made available to Ukraine would be “smart money”.

Opening Access to Ukraine’s markets would be conditional coupled with significant rights to buy into public utilities and transport modes in order to “bring Ukraine into a modern and prosperous European State”. International drug and pharmaceutical companies already have a good footing in Ukraine’s drug and beauty stores, and Nestle and Kraft are rapidly gaining ground in food and confectionary markets.

Chevron, who caused riots in Romania, arising from “fracking” exploration is also coming to Ukraine. Chevron has signed an agreement with the Ukrainian government 10 months after Shell signed its production-sharing agreement to explore and extract hydrocarbons in a gas field in eastern Ukraine. The twin deals make Ukraine one of the few European countries to be pressing ahead with significant shale gas development, which has been held up elsewhere by environmental concerns over the hydraulic “fracking” used to produce the fuel.

It is being reported that where habitations are within one kilometer of horizontal drilling locations that the chance of drinking water contamination is increased by 82%. I know from my travels here, that most Ukrainians in the more remote areas where fracking operations are likely to occur, draw their water from garden wells direct from the aquifers.

Chevron is currently involved in massive pollution scandal involving the Ecuadorian rain forest. It is alleged that Chevron’s associate company Texaco dumped billions of gallons of toxic waste into waterways relied on by local inhabitants for their drinking water, causing a humanitarian and public health crisis affecting thousands of people who live in indigenous and farmer communities.

I am concerned that many Ukrainians may not understand the full ramifications of accepting “smart money” to improve their lives and that they could be taken advantage of in unknown and fragile times.

Ukraine signs shale gas deal with Chevron - FT.com

Scientific study shows fracking contaminates 82% of nearby drinking water | The Therapy Book

The True Story of Chevron's Ecuador Disaster - YouTube
Reply With Quote
  #2 (permalink)  
Old 4th February 2014, 00:35
stepanstas stepanstas is offline
Join Date: Sep 2005
Location: USA
Posts: 3,147
stepanstas is on a distinguished road
I'm always against giving up land or utilities, even for so called "temporary" periods to outsiders, or even domestic companies. Ukraine does need financial stability and if I were a lender, I would definitely want more than a simple promise. The problem, I think, is regardless of whether Ukraine gets $1 Billion or $15 Billion, nothing changes financially. The money just drips out and there is no way of paying it back, passing the buck further. In it's proposal for a trade association agreement with the EU, the EU requested and increase in gas prices for it's citizens as it gets subsidized. As much as the government doesn't want to do that, especially for upcoming elections, it is a must.
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump

All times are GMT +1. The time now is 09:45.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0 RC4 © 2006, Crawlability, Inc.