Ukraine is a complex place. Large country. Poised politically, culturally and psychologically between ‘Europe’ and ‘Russia’.

Here is a piece by Democratist who thinks that all is not well:

President Yanukovich is in the process of creating a highly personalized style of government. According to our sources, all revenue streams have now been put under the control of family or close friends, including the national bank, finance ministry, treasury, tax, and customs. Additionally, the main security organs have come under similarly personalized control, including the prosecutor’s office and the Security Service (now run by the President’s elder son). Even the Party of the Regions is its losing relevance as the President comes to draw more and more on direct ties

Corruption is to emerging markets what banking crises are to mature markets – a sign that government misunderstands Money and that stupidity and greed are playing far too big a role.