Kerry Promises Ukraine $1 Billion Bailout (Detroit, Not So Much)

Submitted by Tyler Durden on 02/26/2014 15:58 -0500

• Corruption
 
• Detroit
 
• headlines
 
• International Monetary Fund
 
• Puerto Rico
 
• Reuters
 
• Ukraine

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Having threatened Russia that "any military move would be a grave mistake" and sounding awefully like a "line" to be crossed, US Secretary of State John Kerry told reporters that the US is ready to bail out Ukraine...

• *KERRY: RUSSIA MILITARY MOVE ON UKRAINE WOULD BE GRAVE MISTAKE
• *KERRY SAYS U.S. PLANNING $1 BLN LOAN GUARANTEE FOR UKRAINE
• *KERRY SAYS U.S. WORKING WITH IMF, OTHERS ON AID TO UKRAINE

One has to wonder how many US jobs this will create (or save)? Or will Ukraine offer unlimited vodka to citizens of Detroit (or Puerto Rico for that matter)?

As Reuters headlines show:

• U.S. CONSIDERING UNSPECIFIED BUDGET SUPPORT FOR UKRAINE ON TOP OF POSSIBLE $1 BILLION LOAN GUARANTEE - KERRY
• KERRY SAYS POSSIBLE MILITARY INTERVENTION BY RUSSIA IN UKRAINE WOULD BE A COSTLY DECISION, GIVES NO DETAILS

Via AP,

Secretary of State John Kerry says the United States is planning to provide Ukraine with $1 billion in loan guarantees and will consider additional direct assistance to the former Soviet republic.

Speaking to reporters at the State Department on Wednesday, Kerry said it was "urgent to move forward" in assisting Ukraine following the ouster of its Russian-backed president. But he said it was also urgent for Ukraine's interim authorities to enact reforms, curb corruption, and prepare free and fair elections.

The U.S. aid would be part of a planned massive international assistance package that was expected to include European contributions as well as loans from global financial institutions.

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