Informally re-blogged from www.cluborlov.blogspot.com
[While everyone is concentrating on the referendum in Crimea, let’s not lose sight of what’s happening in the rest of (formerly independent) Ukraine. As we already know, the government in Kiev is dead broke; the aid that is forthcoming from the US is barely enough to cover its debt to Russia’s Gazprom, for natural gas. Ukraine’s bond yield has spiked to 50% while $15 billion of these bonds mature andhave to be rolled over this year.
A lot has been made of the Russian and Belarussian troops massing all around Ukraine and in Crimea, but so far little has been heard of the state of the military within Ukraine itself. But now it appears that Ukraine’s military (which has never been involved in any armed conflict anywhere and is poorly trained and poorly armed) is mostly on the Russian side already, and, in any case, not willing to follow orders from Kiev. It also appears that the National Guard goon squadsbeing hastily organized by the government in Kiev may be effective at intimidating civilians, but that they won’t be much of a military force.