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Ukrainian Prez and PM Bicker as Kiev Burns

Nation nears financial default, so why not call an election?

By Jason Farago,  Newser Staff

Posted Nov 4, 2008 6:04 AM CST

(Newser) – It's been four years since Viktor Yushchenko, cheated out of an election victory, led Ukrainians in an "Orange Revolution" that seemed to portend a break with the Soviet past. But now Ukraine is paralyzed: the economy is in shambles, and Yushchenko and PM Yulia Tymoshenko are so absorbed in a power struggle that the country is on the verge of default. The New York Times looks at what went wrong in the once optimistic nation.

The IMF has pledged $16.5 million to bail out Ukraine—but Yushchenko and former ally Tymoshenko have ignored the crisis to jockey for political advantage, calling for new elections even as the nation's currency plunged. Ukrainians who backed the democrats' peaceful revolution now feel disappointed and leaderless. "People feel let down to the point of tears," said one writer.

A man counts Ukrainian hryvnas at a currency exchange unit in Kiev, Oct. 24, 2008. The Ukrainian currency has plunged against the dollar as people raced to exchange booths to convert their savings.
A man counts Ukrainian hryvnas at a currency exchange unit in Kiev, Oct. 24, 2008. The Ukrainian currency has plunged against the dollar as people raced to exchange booths to convert their savings.   (AP Photo/Efrem Lukatsky)
Ukrainian President Viktor Yushchenko speaks during a televised address to the nation, Kiev, Ukraine, Wednesday, Oct. 8, 2008.
Ukrainian President Viktor Yushchenko speaks during a televised address to the nation, Kiev, Ukraine, Wednesday, Oct. 8, 2008.   (AP Photo/Myshko Markiv, Pool)
Prime Minister Yulia Tymoshenko seen in her office attempting to reach President Viktor Yushchenko by phone in Kiev, Ukraine. Tuesday, Oct. 7, 2008. Tymoshenko said he did not answer.
Prime Minister Yulia Tymoshenko seen in her office attempting to reach President Viktor Yushchenko by phone in Kiev, Ukraine. Tuesday, Oct. 7, 2008. Tymoshenko said he did not answer.   (AP Photo/Olexander Prokopenko/ Pool)
Ukraine's Prime Minister Yulia Tymoshenko speaks to the press in Kiev, Ukraine, Friday, Sept. 26, 2008.
Ukraine's Prime Minister Yulia Tymoshenko speaks to the press in Kiev, Ukraine, Friday, Sept. 26, 2008.   (AP Photo/Sergei Chuzavkov)
Ukrainian deputies react during a parliamentary session in Kiev, Ukraine, Thursday, Oct. 9, 2008, when Ukrainian President Viktor Yushchenko dissolved Parliament and called a snap election.
Ukrainian deputies react during a parliamentary session in Kiev, Ukraine, Thursday, Oct. 9, 2008, when Ukrainian President Viktor Yushchenko dissolved Parliament and called a snap election.   (AP Photo/Sergei Chuzavkov)
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