Soros Urges Obama To Complete His Treachery In Ukraine

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



soros.netGeorge Soros speaks on stage at the Annual Freedom Award Benefit Event hosted by the International Rescue Committee at the Waldorf-Astoria in New York November 6, 2013.   Credit: Reuters/Andrew Kelly

(Reuters) – Billionaire financier George Soros has urged the West to step up aid to Ukraine, outlining steps towards a $50 billion financing package that he said should be viewed as a bulwark against an increasingly aggressive 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 recognize that it is under attack from Russia,” the Hungarian-born hedge fund magnate wrote. “Assisting Ukraine should also be considered as a defense expenditure by the European Union countries.”

The International Monetary Fund has cobbled together a $17 billion program 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

He said the EU’s balance of payments assistance facility, offered in the past to Hungary and Romania, had $47.5 billion in unused funds. A financial stability mechanism, used in Portugal and Ireland, had $15.8 billion. Both could be extended to non-EU member Ukraine by modifying existing regulations, he suggested.

Soros, who made his name betting against the pound in 1992, identified the European Investment Bank, World Bank, the European Bank for Reconstruction and Development and an expanded IMF program as additional sources of cash.

Finally, Soros noted that Ukraine would free up $4 billion by restructuring its debt via “a voluntary, market-based exchange”. The country has just $10 billion in hard currency reserves but almost $8 billion in bonds falling due over the next three years.

“The additional sources of financing I have cited should be sufficient to produce a new financial package of $50 billion or more,” he said, adding that sanctions on Russia needed to be extended after they expire from April.

(Reporting by Sujata Rao; Editing by Larry King)


Turkey Issues New NAVTEX, Makes Ready To Move Drill-Ship Barbaros

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Turkey issues new NavTex

Cyprus mail

BarbarosAfter anchoring in Famagusta for a few days, the Turkish ship is on its way to continuing its surveys

By Angelos Anastasiou

IN THE wake of President Nicos Anastasiades’ statement conceding to discuss the issue of hydrocarbons as part of the Cyprus problem negotiations, Turkey issued a new NavTex (navigational telex) reserving areas in the eastern Mediterranean – parts of Cyprus’ exclusive economic zone among them – from January 6 to April 6.

Early in October, Turkey had issued a NavTex and dispatched its seismic vessel Barbaros into Cyprus’ EEZ, ostensibly for exploration but essentially in an attempt to disrupt ongoing offshore gas drilling, prompting Anastasiades to pull out of the peace talks citing the infringement of the country’s sovereignty.

The NavTex expired and the Barbaros retreated to the occupied Famagusta port on December 30, at which point UN special envoy Espen Barth Eide tried to piece the talks back together, urging Anastasiades to issue a statement conceding to incorporating the issue of hydrocarbons in the negotiations for a solution to the Cyprus problem, which the Cypriot President did on Monday.

In response, Turkey issued a new NavTex on Tuesday.

“Today’s violation of international law by the Turkish government represents the confirmation of President Anastasiades’ indictments of Turkey’s and the Turkish Cypriot leadership’s true intentions,” government spokesman Nicos Christodoulides said in a statement.

“This decision complicates matters even further, at the same time making it clear even to the most sceptical who bears the responsibility for today’s stalemate, the suspension of the peace talks, and the constant threat of regional instability.”

Yesterday, Christodoulides told state radio that Legal Services are already exploring any legal measures against Turkey.

“Meanwhile, the government has already started informing foreign governments of the new Turkish provocations, and will continue to do so in the coming days,” he said.

The NavTex came at the most inopportune time for the government, one day after sustaining heavy criticism by opposition parties for allowing the issue of hydrocarbons onto the negotiations’ agenda.

“Negotiations are at a stalemate, which is extremely dangerous,” said AKEL’s leader Andros Kyprianou. “It is obvious that Turkey will attempt to disrupt our efforts to develop our natural wealth – even worse, Turkey will send out a message that Greek and Turkish Cypriots cannot solve the Cyprus problem themselves.”

DIKO leader Nicolas Papadopoulos argued that instead of acting as a deterrent, the President’s concession actually invited Turkey to escalate the stand-off.

“As expected, and as DIKO had warned the President, his generous offer did little to satisfy Turkey’s greed,” said Papadopoulos. “On the contrary, this serious concession on our part included natural gas in the Cyprus problem’s agenda and further emboldened Ankara, resulting in the issuance of a new illegal NavTex mere hours later.”

EDEK leader Yiannakis Omirou made the same point.

“Once more, the tragically thoughtless and catastrophic behaviour of the last 40 years continues,” Omirou said. “Not only do our concessions fail to placate Turkey, they motivate her to new challenges and demands.”

Perhaps most painfully, Anastasiades received flak from his own party’s MEP Eleni Theocharous.

In a statement, Theocharous said the concession of adding natural gas to the negotiations’ agenda was “dangerous” as it added to a series of earlier concessions with nothing to show for them.

“This new gift to Turkey has already been perceived as a weakness and Cyprus’ position in the talks has been weakened,” said Theocharous. “Under these circumstances, returning to the talks will equal our capitulation.”

Pre-announcing the issuance of Turkey’s new NavTex on Tuesday, the breakaway regime’s administration issued a statement saying it was prompted by the ‘Greek Cypriot Administration’s’ unilateral drilling activities.

“As previously declared, the Turkish Cypriot side will not remain unresponsive to the unilateral activities carried out by the GCA which disregard the inherent rights and interests of the Turkish Cypriot people,” the statement said.

“It should also be reiterated that with a view to protecting the rights and interests of the Turkish Cypriot people, the Turkish Cypriot side will continue to take all necessary steps within this framework, including commencement of drilling, in cooperation with Turkey.”