WE SHOULD CARE ABOUT UKRAINE
Why worry about Ukraine? To many, it seems far away and a country about which they know little. (Excepting TTPers, of course, who were updated on events there in the HFR of 01/24/14.)
News clips of the recent violent demonstrations in Kiev have occasionally appeared on the news shows, but most Americans have shown little interest. Yet Ukraine has the very real possibility of setting off the next financial crisis.
The first thing to grasp about Ukraine is its size. It is the largest country in Europe at 233ksm (thousand square miles), bugger than France (213ksm), not quite as big as Texas (268ksm). The second thing is its critically strategic location between Russia and Europe (see maps below).
The crisis scenario is as follows: Russia is Europe's major gas supplier. About half of that gas is sent through pipelines that cross Ukraine. Further, Ukraine is increasingly unstable for three reasons:
