Who'll bail out Ukraine, West or Russia?

The Ukrainian crisis is quickly becoming a geostrategic conflict. The Crimean parliament's declaration of independence from Ukraine ahead of the March 16 referendum indicates Crimea may possibly join Russia. As Russian President Vladimir Putin maneuvers to restore Russia's right to behave with a superpower's impunity-particularly in its own backyard-the West pushes back.

But economic forces also have shaped this confrontation, especially Ukraine's record as the world's worst performing industrial economy over the last 20 years.

It was popular discontent with this disastrous performance that fomented the recent dissent. This, in turn, triggered a bloody response from ousted Crimean President Viktor Yanukovych. His response consolidated the opposition-and ultimately cost Yanukovych his job.