Western governments are jubilant over the fall of Ukrainian President Viktor Yanukovich, a Russian ally. They may be underestimating Vladimir Putin: Russia has the option to hasten Ukraine's slide into chaos and wait until the hapless European Union acquiesces to - if not begs for - Russian intervention.
That leaves the West with a limited number of choices. The first is to do nothing and watch the country spiral into chaos, with Russia as the eventual beneficiary. The second is to dig deep into its pockets and find US$20 billion or more to buy near-term popularity for a pro-Western government - an unlikely outcome. The third, and the most realistic, is to steer Ukraine towards a constitutional referendum including the option of partition. |