Ukraine risks financial meltdown after break with EU
KIEV, Ukraine, Nov. 22 -- Ukraine is risking a financial crisis of monumental scale by ditching the EU as it faces a cash crunch before imminent debt repayments, analysts said Friday.Ukraine received warnings from senior EU officials and the United States after it dropped its EU membership bid, European Observer said. U.S. officials cited difficulties Ukraine could face obtaining credit from the International Monetary Fund after it snubbed the EU, EUObserver.com said. Ukraine's ties with the IMF are already fraught over recent mishaps, including a $15 billion line of credit that fell through. Renewed Ukrainian attempts to obtain IMF cash are aimed at securing a line of credit for $10 billion or more to enable Kiev to head off default on loan repayments. Ukraine needs to make regular repayments on more than $60 billion of external debt. Thousands of protesters in Kiev and other Ukrainian streets Friday pushed the argument Ukraine belongs in the EU, not i