Economist: On the edge

The Ukrainian economy would rather forget 2014. But 2015 may be little better: GDP is still shrinking. Gas payments, defence and support for the hryvnia, which lost half its value in 2014, have bled the government dry. Foreign-currency reserves fell by a quarter in December, leaving just $7.5 billion, equivalent to only five weeks’ worth of import cover. The central-bank head talks of a "full-blown financial crisis".