U.S.-EU vs. Russia: The New Cold War?

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Feb. 28 (Bloomberg) –- Bloomberg’s Willem Marx and Indira Lakshmanan discuss the financial stresses in Ukraine and the tensions between the U.S. and Russia over the conflict. They speak to Mark Crumpton on Bloomberg Television’s “Bottom Line.” (Source: Bloomberg)

In the capital today.

Are things improving from your perspective?

It has been pretty calm today in the city.

A lot of malitias around.

There's not much of a problem despite the huge numbers.

You can hear some protests going on behind me on the streets.

It has been pretty calm.

What kind of fact are we seeing on businesses in tf?

Are things returning to normal?

-- in kiev?

Just a week ago, we saw very violent protests.

Yet, the wholehotels and cafes and markets are very active.

Across from here is a huge shopping mall loaded with customers.

The only concern seems to be kiev's residence and banks.

They are not allowing large withdrawals.

I will ask you to stand by because we want to get a view on the crisis in the ukraine from washington.

Our foreign-policy correspondent joins us now.

There are financial stresses on the government in tf.

It is the imf bailing them out?

The agency has been burned twice in 2008 and 2010 by ukraine.

The question.

The imf chief has said that a team will be going from the imf to kiev to do some investigation about what is needed.

The government has said first that it needs $35 billion for a two-year bailout.

Then they came back and more recently said we actually need $15 billion.

They have asked them to not talk about figures because it's just confusing for everyone.

That's not forget that all of this began with the russians back at the end of last year promising the ukrainian government the $15 billion bailout at that time.

That was part of what ignited the protests.

Those democratic minded, liberal minded ukrainians who wanted more of an alliance with the eu and association that would've allowed them to eventually get european union membership.

At this point, the imf will have to look at the history.

Twice since 2008 they have had to stop loans to the ukraine because they were unable to keep their promises.

What i think is interesting is that the current acting prime minister has said that he is willing to do the austerity and willing to cut the gas subsidies and really -- he admits it will be political, cozz kamikaze.

I'm wondering what sense you are getting from people on the ground in kiev.

What do they think of the new leadership?

She just mentioned the idea that it's a kamikaze mission.

People are hoping that this will be a government of national immunity.

I heard some young people talking today about the fact that all the politicians here should be banned.

They have a term for it.

They are requiring politicians to work together with the imf.

Speaking of working together, what about economic support from russia?

They believe that yannick kovacic is the duly elected president of ukraine.

At this point, the u.s. is watching this very carefully.

They don't know which way rush is going to go.

We have seen the russian military exercises over the last few days.

The ap has reported that some journalists saw some russian troops.

Others have said that it will be done more under the radar by russian or people in crimea planning a takeover.

They said, don't do anything.

Remember what you warn us about not interfering in libya and syria.

Put your money where your mouth is and not interfere in ukraine.

We were talking last week with the former u.s. ambassador to the european union.

I will ask you the same question.

It is about these competing interests between the u.s. and eu on one hand and brushed on the other hand a lot of people talking about shays of the cold war.

-- and russia on the other hand.

The answer depends on the lens through which you are looking.

We've seen in the editorial pages of the wall street journal, people cramming proclaiming this the new cold war.

You see the obama administration trying to get away from this perspective.

They know that they need rush on so many other issues like syria and ironic and north korea -- russia on so many other issues.

This is not rocky for.

-- rocky $. 4. are they sensing cold war tensions?

They were talking about 1991 and mentioning the fact that ukraine gave up its nuclear weapons.

The west owes this new generation of leaders.

You're on the ground in kiev.

What is next for you?

I'm heading to geneva

This text has been automatically generated. It may not be 100% accurate.


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