George Soros urges giving Ukraine $50 billion of aid to foil Russia

Writing in the New York Review of Books, Soros said Europe and the United States needed to balance sanctions imposed on Russia with large-scale assistance to near-bankrupt Ukraine, which risks defaulting on debt as a result of turmoil caused by pro-Russia separatist fighting.

“Europe needs to wake up and recognise that it is under attack from Russia,” the Hungarian-born hedge fund magnate wrote. “Assisting Ukraine should also be considered as a defence expenditure by the European Union countries.”

The International Monetary Fund has cobbled together a $17 billion programme for Ukraine but says $15 billion more is needed. Soros called on lenders to promise far more to spur Ukraine into radical reform and to send a signal to Russia .... http://uk.reuters.com