WWL>Topics>>3-3-14 11:35am Garland: on the Ukraine

3-3-14 11:35am Garland: on the Ukraine

Mar 3, 2014|

Garland talks with CBS foreign correspondent Larry Miller about the situation in the Ukraine.

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Automatically Generated Transcript (may not be 100% accurate)

If you want -- one -- clinic where you have done no throws on the issue of Ukraine. Is because vital amateurish show a political and economic ma and -- where it was important not looked at it and said. Was Syria and we got. And the needs of people starving men and women and children being killed today we got Libya and his right who -- -- Raw and still threatening it in the or or some talks would go out. Is -- still pumping their chips would go abroad seeming to disintegrate. Afghanistan couldn't seem to be going rate. Why should do this country you -- and notes were little. Butte -- significant. This morning a couple of or herbs and says that's. Of those could be a Black Swan event or permit from markets world -- I looked it up blocks one is an event. The DB from what is normally expected something that is very typical to predict. Goes on -- -- quote. So -- see a massive challenge for the world order of Wall Street Journal. You're it's -- and you're. Threaten. By Putin and Bob what's happening. In the the Ukraine. Here's an -- -- and money why this matters a lot to the world economy. As always when -- don't have a clue or go to -- experts we have Larry Miller wouldn't CBO's report live from London. Covering the Ukraine Larry I appreciated that time. Help me here I'm I'm obviously. You know objective on this. A look at the doll 200 points now look at NASDAQ that -- points down as soon be. Points down and and talk of very Black Swan and a massive challenge for the world war what score well. Yeah time and if you looked to Russia itself. There's stock market is down. 10% today there Ruble is at a record low against the dollar and the bureau. The interest rates has likes to -- up to about 9%. This does as he Syria a Black Swan nobody saw it coming. A month ago even when people. Down into the streets of -- and other cities. And independence square. It. -- and it wasn't visible to you would mean what was going on. It was very visible. To Vladimir Putin. Because he. It has. Put his eggs very much in the Ukrainian basket. Ukraine is not a rich are treated package just the opposite. Financially it's -- very the very deep economic hole. But politically. It's very important to Russia. The eastern part of the Ukraine was Russian and especially. -- -- -- and back up until 1954. It was part of Russia and Khrushchev premier Khrushchev at that time who was himself -- Ukrainian. I gave it is to Ukraine. As a gesture of some sort it was quite confusing and at the time the only. Really rated about line Russian newspaper. Now what we have is -- strongman called Barbara Putin's backing down does not. His DNA. He wants to keep the Ukraine in his control in the Russians good Russians control. He has Sunday eastern the country's natural constituents at least. In 10 eastern Ukrainian regions that are ethnically Russian they speak Russian as a first language and there are Russian part. What can happen here we could see it divided country at the very least. That is -- is that eastern. -- Community is he so it's on the blacks the is eastern Russia eastern. Ukraine. Yeah. That should -- on the border of Russia and Russia as a major naval. Base there under agreement. We Ukraine. -- That doesn't those citizens that are a lot of them are Russian Marbury it didn't -- vote for independence in 1991. Did it well. I that. Bet that that -- in front of me. But it would be it would be a usual because 9091 we're coming out of the Soviet Union. But. And Soviet Union was was far greater as we note that that Russia and the now very well might have done that. But what we have now is Russia and Russia is. Same to its own people and to the people who speak Russian and Ukraine. That this revolution that's been going on for the last couple months. As dead. Of fomented by the very far right Nationalists -- Nazis. And that's how Russia is selling it to its own people and -- Frightening to people in. Crime tea and the other. Russian speaking areas into the north of the -- Is that a valid concern -- at. Want. -- replete concern. There is among the opposition won parties is that is that nationalist. Right wing party -- neo Nazi inclinations. From lack of a play that down but the the vast majority. Of the opposition to what the opposition but -- now the government. Not about political persuasion. What do you look at what time since. Goodman. Do not -- implying without winning we're coming right back okay or. Ten Mormon. Larry Miller doing new big. CBO reporter why put England in covering for. And we're trying to set. -- possibly like maybe new crime was something that we shouldn't be interested in and you were wrong just like me. The market says they've dropped to -- and he points on the L. The you in the room will stone and Russia. That's indeed. And all the other measurements even gold is up -- this important. Lot of concern about the world economy. To the problems in the Ukraine. And stay on this Larry Miller is given some of its I mean reporting live in London covering and Larry I hear the president come out and say that this will implement sanctions and here. G-7 saying we're not going and so she weren't gonna hold that meeting we're -- Nevada house -- from the GA. The idea that this really much of a threat. Well it is. Russia needs to do business with the outside world -- do business with the European Union the United States. The the Russian economy is very very reliant on energy panel on selling its ordeal. Of course we're not talking about. An embargo on the -- because. So much of Central Europe and Western Europe relies on that -- When it counted 5% Europe right. Yeah yeah so. You don't want you know like -- nose to spite your face so to speak but what can they do well just a short while ago. The bottom. Prime minister of Britain David Cameron. He's been in meetings all day is the British security officials. Look at. You know what options there might be. And he says it's gonna remain political economic. And diplomatic pressure on Russia. Now you'd make fitness doesn't mean anything but it and in this. In the scheme of things that may not but there's talk of banning the Russians soccer team from this year world. Caught up in the soccer World Cup in Brazil. It's it's symbolic things that would. -- -- Would happen but. Indeed the real thing -- the economics and that's the only weapon. That the west has what commit future hurt Russia but now but also future. And Russia has Putin has been on the role he. Pretty much has gotten his way in Syria he's gotten his way in -- -- and we've both Europe and and the American President Obama has drawn lines in the sand and soul of Putin -- respect of those. Correct -- -- moral wrong you Ukraine. Thirteen billion in debt six seeing building come through before the end of 2005. Without help in the new year future. There had to import of bald Russia it says. We're gonna give you fifteen billion now they're pros -- that. We're -- litigant cobra and international monetary or political. Have to come from the international institutions it's gonna have to come from the European Union's gonna have to come from the United States. So. I mean were not talking about I mean Ukraine. Used to be the breadbasket of Europe especially for Russia. It's wheat crop. Said the Russians. And but it is is such. Dire financial straits right now and has been for a long time and a lot of that down to. Well -- the alleged mismanagement and corruption of the government has just been forced out. Identical which is. It's being accused the president AMOCO which is being accused of money laundering is under investigation in Switzerland for that and other places as well. And his cronies is. That is as well you wanna call -- but chemical which is his trojans man. And he fled. That ten days ago -- Friday. And he he turns -- In Russia and on Friday gave me. A news conference that he was still the president of Russia -- of Ukraine excuse me if Ukraine. And debt that was the deal that was worked so where is. Three foreign ministers from European Union countries and Russia. And within hours. That agreement was torn up and the opposition to power illegally and that's what Russia is things as well. We want to return to the agreement that yeah like over which had what is the opposition. Which call for elections at the end of December. The elections are now set for -- there's there are other issues as well. William -- coat it should be escorted back into Kia by the Russians that highly unlikely. I think president Obama's been in -- -- talking to Putin and remove everything covering that he says look board would give you would pull back -- sent 2000 troops. And world stilts they've scored your military apps and threw them out says it's in that part of Ukraine. Will bring union nations organizations security cooperation in Europe. It any of that do you think is possible. Well at all possible -- I would audit we have. An ultimatum. From Russia today that. It's given Ukrainian forces in Crimea. Until the wrong. Two it did dawn tomorrow morning to surrender. Two Russian forces were safe at all -- possible. So what's going to happen then right now we have had a shots fired what's gonna happen if that actually comes to the and we have the the Russians. Overcoming the Ukrainian forces and the military flight which they would do. And he's got all he's got the Ukrainian forces right now Indians. By the Russians. And the civilian militias if you will. In their bases repetitive basis. There there are shots for them to. Give themselves. To join the Russian troops. So -- that they've been seeing the Ukrainian National Anthem. So we're gonna see movement -- uh oh what's gonna happen. Last questions -- -- -- to this point you're in the depths at the outcome. At the -- is there a reason. Only outcome for American citizens to be concerned about the isn't -- -- All the -- back in the Cold War weary. And that is that that alone is reason. You know we we have the UN and to resolve issues which is this is often impotence is doing such. And it's also not able to major details of this situation neither. Do Americans care -- because reducing 200 points on the Dow. And it's gonna continue to full. Any time that there is uncertainty in the world. Okay kick the stuffing out of your investments that that your pensions of the guys -- currency. There and and also. -- -- old. It's a -- -- domino game one domino it's another it's another you can't. See what's gonna happen around quarter. And there are parallels -- -- You know Russia ago. The Nazis going into the suited to land. Which started World War II. 100 years ago this summer the arch duke of Austria was was assassinated. -- World War I. -- who saw that coming you know from such an event so you don't know what's happening with -- that this game Domino's. That. As it plays out. Professor Miller you've taken millions of buildings student in the class move real -- at least the seat. Are appreciated and give me the time I think a better understand a little bit better so it is an audience and familiar with the talks. Larry Miller's rebuke from -- reporting live from London boards covering the Ukraine. Coming right back double bill big it's 7 AM. 53 FM.