KIEV, May 19 – Ukraine is in a state of quasi-war with Russia and the international community which supports the country should take a strong stand in the negotiations with private creditors who took a selfish and unconstructive position, including up to Ukraine's default, former U.S. Treasury Secretary Lawrence H. Summers said.
"The IMF and national authorities should call out the recalcitrant creditors on their irresponsible behavior. If necessary, Ukraine should be prepared to go into default and not meet its obligations, while at the same time the international community should make clear that it will continue to provide support to Kiev," he wrote his column in the Financial Times which was posted by the Finance Ministry of Ukraine on its website.
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