He doesn't understand the way the world works now!
Vladimir Putin has lost the plot over Ukraine, according to the German chancellor, Angela Merkel.See:
US reports said Merkel phoned Barack Obama on Sunday evening after speaking to the Russian president to press him to back down from his invasion of Ukraine and occupation of the Crimean peninsula.
"She was not sure he was in touch with reality, people briefed on the call said. 'In another world,' she said," the New York Times reported.
Doesn't he understand that countries who can't pay their debts to foreign lenders lose their sovereignty?
Maybe he does.
He just has a different idea of who gets to take control afterwards and on whose terms.