Earlier in August, Ukraine managed to avoid a technical default by paying off its $120 million eurobond coupon. The next payment, $500 million, is due to be made in September.
“Creditors are always in a bad situation under these conditions – there’s no money to be had, but they still want their money. But I actually think there’s no chance that Ukraine’s going to be able to pay what they owe, and 5 percent is not going to fix the problem… The creditors are going to have to take a bath this time… Six to twelve months from now we could be looking at another Greece,” Tucker told RT.