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The excuse that the Ukraine has an ethnic Russian population, therefore belongs to Russia is a thinly veiled excuse to grab more territory.
Putin is nothing more than a Khruschev wannabe.
Well, it's a can of worms no matter how you look at it.Borders move all the time. Worst case scenario for the Ukraine is a Balkan style 'civil' war with the country dividing along ethnic lines.
The West will just stand on the side lines complaining. Some sanctions will be introduced, but even that will be half hearted. We need Russia's oil and particularly gas. About 30% of Europe's gas comes from Russia via the Ukraine and that sort of quantity cannot be made up by other large exporters like Norway.
Cheers
Steve