Have investors got too used to political uncertainty in Ukraine? Preliminary results from last Sunday's elections, the third ballot in three years, suggest former prime minister Yulia Tymoshenko may be able to form a coalition of so-called Orange parties,taking over from the previous government headed by Viktor Yanukovich. The outcome is not perhaps the one foreign investors would have chosen. But they have proved increasingly resilient to frequent political turmoil in Ukraine.

Whether they are right to be so sanguine is questionable.