A scene at the Ilyich Metallurgical Combine, the second-largest steel producer in Ukraine, in Mariupol. Joseph Sywenkyj for The International Herald TribuneFrom The New York Times:
MAKEEVKA, Ukraine — Few areas of Europe have taken such a body blow from the world economic crisis as the industrial heartland of eastern Ukraine, home to giant enterprises in the steel and metals industry in which orders have dried up nearly completely and prices have plummeted.
In the Donetsk region, home to 4.6 million people, around 80 percent of the economy is tied to the metals industry. In January, when industrial production dropped by a precipitous one-third throughout Ukraine as a whole, in Donetsk it fell by half against the previous year.
Read more ....
More News On The Ukraine
Quiet Depression Sweeps Ukraine -- New York Times
Eastern Europe Steps Back From The Brink Of Collapse -- Wall Street Journal
Russia Fumes Over Gas Bill From Ukraine -- Wall Street Journal
World Bank Says Ukraine's Economy To Shrink 9 Pct -- The Street
Russian State Duma hopes Ukraine-Russia relations will improve after presidential elections in Ukraine -- Kyiv Post
FACTBOX - Protests in former Soviet states -- Reuters
My Comment: I will be visiting families in both Russia and The Ukraine this August. I think this is going to be a very interesting trip and experience .... especially when one looks at what is happening now.
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