Behind every political crisis is an economic backstory. Speigel has an excellent overview of the economic problems facing Ukraine right now. The political instability in the country makes it especially difficult for Ukraine to address these problems, and as chaos seems to descent on the country, its economic turmoil will only increase. The only hope for the easing of these issues is some sort of aid coming from the EU or the US, and, right now, it does not appear as if they will be stepping up to the plate.
The reports that the Russians have sent 15,000 troops to Crimea (reports which cannot be verified by journalists on the ground) have sharply raised the question of how Ukraine and its allies should respond to an invasion. At this point I really do not have any idea of how strong or reliable the Ukrainian military is, nor do I have any sense of how truly divided the Ukrainian polity is. There are plenty of talking heads, essentially repeating what each other has said, and I cannot vouch for any of the rumors that are currently flying around. My advice is to keep reading as much as you can from as many sources that you can find. There is little question, however, that the next 24-48 hours will be critical in determining the direction of this crisis.
The Economist has published a very perceptive and powerful essay entitled “What’s Gone Wrong with Democracy?” It is a very long essay, so I will not ask any questions about it on the weekly quiz. But I strongly encourage everyone to read it. As we witness the middle class protests all over the world, we cannot ignore the larger question of whether a globalized world is governable along the lines of political and economic authority that have been developed over the last 500 years. The world seems to be moving very fast away from that ideal.
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