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Wednesday, 10 February 2010 - Yanukovich tells Ukraine rival to quit as premier |
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    Read more with google mobile : Yanukovich tells Ukraine rival to quit as premier |

    Edition: U.S. Article Comments (0) Slideshow Save Email Print Reprints Most Popular Most Shared China PLA officers urge economic punch against U.S. 09 Feb 2010 Senate jobs bill extends Medicare payment rates -text 09 Feb 2010 Snow, wind batter East Coast in big 2nd storm 9:22am EST Moscow says U.S. missile shield aimed at Russia 09 Feb 2010 Honda expands airbag recall as more Toyotas probed | Video 10:11am EST China PLA officers urge economic punch against U.S. 09 Feb 2010 Study toasts beer as being good for your bones 09 Feb 2010 Does "thinking outside the box" drive you mad? 9:12am EST Inside Toyota's epic breakdown 09 Feb 2010 Google Gmail tweak challenges Facebook, Twitter 09 Feb 2010 Yanukovich tells Ukraine rival to quit as premier Richard Balmforth and Yuri Kulikov KIEV Wed Feb 10, 2010 9:28am EST Related News Tymoshenko backers challenge Ukraine regions count 7:36am EST Ukraine needs help from West and East - Yanukovich 7:14am EST Ukraine's Yanukovich wins by 3.48 pct - full count 4:43am EST Ukraine's Tymoshenko girds to contest result Tue, Feb 9 2010 Ukraine awaits Tymoshenko concession or legal fight Mon, Feb 8 2010 < 1 / 2 > View Full Size KIEV (Reuters) - Ukrainian opposition leader Viktor Yanukovich called on defeated rival Yulia Tymoshenko to resign as prime minister Wednesday, turning up the pressure even as her camp contested the result of Sunday's presidential election. World Setting out his program, Yanukovich said that while relations with Russia and countries of the former Soviet Union would be his priority, Ukraine needed help "from West and East" to stabilize its economy and restructure its debt. With all votes counted in the Central Election Commission, Yanukovich ended with 48.95 percent to Tymoshenko's 45.47 percent, a lead of 3.48 percentage points or some 888,000 votes. Bond yields jumped sharply after Yanukovich's statement on debt, indicating a negative sentiment on Ukraine, as investors were concerned he meant to restructure sovereign Eurobonds. Analysts said it was not likely he had called for a restructuring of sovereign debt -- which would have amounted to default. "I officially turn to the prime minister and call on her to resign and cross to the opposition," Yanukovich, 59, said in his first policy statement since the election. "The country does not need another political crisis. The nation has spoken for a change in power and the prime minister should take the right decision and enter opposition." The charismatic Tymoshenko has not been seen publicly since election night Sunday when she urged her regional representatives to check the vote-count carefully and "fight for every vote." Her supporters have forced a recount of the vote in some regions to prove what they allege is "cynical" fraud by the Yanukovich camp. This is denied by the Yanukovich side. Wednesday, Tymoshenko canceled a weekly government meeting and traveled east to Zaporizhya to attend a funeral. Some of her supporters have expressed doubts about the challenge she is mounting. Some say she would be better off going into opposition and fighting Yanukovich from there, and privately say they are not clear on what her strategy is. Few people, beyond a very tight inner circle, had spoken to her since Sunday night, they said. One of her lawmakers, Svyatoslav Oliynyk, predicted she would step down and cross over to the opposition. LIONESS "ABOUT TO SPRING" "How does one explain this silence? It is not the silence of lambs, more that of a lioness about to spring," political analyst Volodomyr Fesenko was quoted as saying by Interfax-Ukraine news agency. In his statement, Yanukovich said: "We need help from the West and the East in stabilizing the economic situation and restructuring the financial obligations." He ordered a new government to "go to our creditors, our neighbors, economically developed countries with the aim of reaching agreements and direct help to solve the economic crisis." He did not say which obligations he meant. Some of the particularly difficult payments for Ukraine, which has been battered by the economic crisis, have been sovereign and quasi-sovereign Eurobonds, domestic T-bills and payments for Russian gas. He made no direct reference to the International Monetary Fund, which suspended a $16.4 billion bailout program at the end of last year but whose aid had been vital in propping up the state's finances in 2009. Yanukovich's comments on ties with Russia and the CIS appeared to confirm he would tilt Ukraine policy back toward its old imperialist master after the deep chill under the pro-Western Viktor Yushchenko. But he was careful to balance this with saying Ukraine would continue to pursue negotiations with the European Union on an association agreement. INTERNATIONAL ENDORSEMENT The political confusion risks setting back a resumption of IMF lending which last year was crucial for the state finances. Though tensions remained high, there was no sign of people taking to the streets in support of the fiery premier, co-architect of the Orange Revolution that overturned Yanukovich's victory in a rigged election in 2004. A key date is February 17 when official results are to be declared and a president-elect will be named. Any proof of cheating assembled by the Tymoshenko camp has to go before a higher court in the few days following that date. There is much at stake for the stylish 49-year-old, whose challenge to Yanukovich flies in the face of endorsements by the international community. The United States, Russia and international monitors have hailed the election as democratic. Yanukovich's camp has denied there is any legal basis for challenging the result and has ruled out any third round vote as happened in 2004. That vote resulted in defeat for Yanukovich at the hands of current President Viktor Yushchenko. If Tymoshenko does not quit, a vote of no confidence in her can be expected in parliament, possibly this week. World     Add a Comment More from Reuters Bernanke: trial reserve drains may launch exit WASHINGTON (Reuters) - The Federal Reserve could begin pulling back its unprecedented stimulus for the U.S. economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said on Wednesday. Euro zone holds intensive talks on Greek rescue | Video Honda expands airbag recall as more Toyotas probed | Video Obama doesn't "begrudge" Dimon, Blankfein bonuses China indicts Rio staff for bribery, commercial secrets New York Times profit beats, but ad outlook dim » More Top News Analysis: Will IMF step in on Greece? Europe is loathe to turn to the International Monetary Fund to help bail out Greece but it may have little choice.  Full Article  Scenarios: What the EU, IMF could do Strike tests Greece's austerity mettle Roubini: Aid "step in right direction" Global Markets Reuters Breakingviews: Toyota's troubles in overdrive The cost of Toyota's recall nightmare is nothing compared to the price of fixing its battered reputation.  Commentary  Special Report: Inside Toyota's failure Were consumer red flags missed? A high-speed death for cautious driver Would you buy a Toyota? Autos © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index   Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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