Yes it is on the verge of bankruptcy and the reason is simple, it has for far too long, been focused on politics, rather than economics. Orange revolutions and talk of freedom, is cheap, when you can't deliver on what matters to people, jobs, health, pensions, education and a rising standard of living. Political wranglings never deliver on these, especially in a global downturn. Facing and conquering financial reality through a sound economic strategy does deliver wealth for the nation. Ukraine needs to wake up to the hard economic facts, and put leadership in place that is not preoccupied with endless political discussions and power infighting. That leadership, needs to assess the industrial and commercial base and the external and internal market opportunities available to it. Then act in a manner to deliver on this, for the benefit of the Ukrainian people. Ukraine has always miscalculated Europe, it thought, that if it said the right thing, copious amount of money would keep flowing, and all would be fine, and full integration would follow. However, this never had a downside calculation in it, of Europe in financial trouble, or the more basic fact that Europe fears Ukrainian integration, becuase of its strong Russian population component, who would be free to roam Europe. Therefore, if Ukraine wants to come out of this, they need face economic reality, that reality, is that they must concentrate on economics, not depend solely on Europe, and develop themselves in a proud independent fashion, addressing all potential markets equally, and not placing hinderances in the way internationally of these market opportunities. Thsi is the savvy approach to economics in the world today, picking fights and antagonising potential investors and customers, is no way to run a business, and certainly no way to run a macro-economy on a national scale. So I wish you well Ukraine, do change that the Ukrainian people can believe in!