So Much for "Yats"

We always back the biggest losers. Our man in Ukraine has just been forced to resign.

From March 2014:

Back before February 4, weeks before the most violent crackdown that killed protestors that led to Viktor Yanukovych’s ouster, Assistant Secretary of State Victoria Nuland and US Ambassador to Ukraine had a conversation about how to divvy up power between 3 opposition figures in a post-Yanukovych Ukraine. Nuland deemed “Yats” the necessary post-Yanukovych leader.

Nuland: [Breaks in] I think Yats is the guy who’s got the economic experience, the governing experience. 

  Marcy Wheeler

"Yats", of course, was our man for austerity in Ukraine.

Now, today, April 10, 2016:

After weeks of political crisis in Kiev, Ukrainian Prime Minister Arseny Yatsenyuk has announced his long-expected resignation.

[...]

The prime minister has been a highly unpopular figure in Ukraine with his approval ratings languishing in the single-digit range. The public blames him for a ruined economy.

  RT

Again, March 2014:

For economists who think austerity is a disaster, Ukraine is on a path to ruin.

“We saw this in the 90s and what the IMF did to Russia with Yeltsin. They’ll do that to Ukraine,” said [Vladimir Signorelli, president of investment research firm Bretton Woods Research LLC].

[...]

“Yatsenyuk is the the kind of technocrat you want if you want austerity, with the veneer of professionalism,” Signorelli said. “He’s the type of guy who can hobnob with the European elite. A Mario Monti type: unelected and willing to do the IMFs bidding,” he said.

  Forbes

Well, that is indeed what we wanted. Alas, apparently the Ukrainian people did not.

Arseniy Yatsenyuk's resignation comes as no surprise. According to opinion polls, his party's popularity had plummeted and he narrowly survived a vote of no confidence in parliament in February.

[...]

President Poroshenko himself came under scrutiny this week after leaked documents suggested he had set up an offshore company as a tax haven using Panamanian legal firm Mossack Fonseca.

He said he had done nothing wrong and Ukrainian prosecution officials said there was no evidence of a crime but there were calls for his impeachment.

[...]

US Vice-President Joe Biden, in a call to Mr Yatsenyuk on Sunday, congratulated him on "accomplishments over the past two years", including economic reforms

  BBC

He may be calling Poroshenko soon.

Here's my favorite video of Yats (who does indeed maintain an air of professionalism) being appreciated at work:

And So It Goes

Back before February 4, weeks before the most violent crackdown that killed protestors that led to Viktor Yanukovych’s ouster, Assistant Secretary of State Victoria Nuland and US Ambassador to Ukraine had a conversation about how to divvy up power between 3 opposition figures in a post-Yanukovych Ukraine. Nuland deemed “Yats” the necessary post-Yanukovych leader.

Nuland: [Breaks in] I think Yats is the guy who’s got the economic experience, the governing experience. He’s the… what he needs is Klitsch and Tyahnybok on the outside. He needs to be talking to them four times a week, you know. I just think Klitsch going in… he’s going to be at that level working for Yatseniuk, it’s just not going to work.

Pyatt: Yeah, no, I think that’s right. OK. Good. Do you want us to set up a call with him as the next step?

Thursday, Yatseniuk was appointed Prime Minister.

  Marcy Wheeler

“Yatsenyuk is the the kind of technocrat you want if you want austerity, with the veneer of professionalism,” [Vladimir Signorelli, president of boutique investment research firm Bretton Woods Research LLC in New Jersey] said. “He’s the type of guy who can hobnob with the European elite. A Mario Monti type: unelected and willing to do the IMFs bidding,” he said.

[...]

“Yatsenyuk was saying that what the Greeks did to themselves we are going to do ourselves,” said Signorelli. “He wants to follow the Greek economic model. Who the hell wants to follow that?”

[...]

Yanukovych resisted the International Monetary Fund’s demand to raise taxes and devalue the currency. Yatsenyuk doesn’t mind. For economists who think austerity is a disaster, Ukraine is on a path to ruin.

“We saw this in the 90s and what the IMF did to Russia with Yeltsin. They’ll do that to Ukraine,” said Signorelli.

  Forbes

Yeah, austerity hasn’t done any country any good that I’ve heard. Well, not directly. It’s done the money-holding countries wonders.

Meanwhile...

Russia sent fighter jets to patrol the border with Ukraine [...], as the interim president warned any movements of its troops from their Crimea naval base will be considered an act of "military aggression".

Meanwhile, a Russian news organisation said the country was providing shelter for ousted president Viktor Yanukovych in a Kremlin sanatorium just outside Moscow.

Ukrainian interim President Olexander Turchynov condemned the takeover of government and parliament buildings in Crimea as a "crime against the government of Ukraine" following a seizure by pro-Russian activists.

  UK Independent