Will Obama and Europe Let Putin Carve Up Ukraine?

Yes, obviously.

But see the editorial at the Wall Street Journal, "Putin Declares War":

Vladimir Putin's Russia seized Ukraine's Crimean peninsula by force on the weekend and now has his sights on the rest of his Slavic neighbor. The brazen aggression brings the threat of war to the heart of Europe for the first time since the end of the Cold War. The question now is what President Obama and free Europe are going to do about it.

With a swiftness and organization that suggests the plans were hatched weeks ago, Mr. Putin is moving to carve up Ukraine after Russia's satrap in Kiev, former President Viktor Yanukovych, was deposed in a popular democratic uprising. Russian troops have invaded Ukraine's territory and now control all border crossings, ports and airports in Crimea. The Kremlin's rubber-stamp parliament on Saturday approved Russian military intervention anywhere in Ukraine, which is nothing less than a declaration of war. The new government in Kiev responded by putting forces on high alert.

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This is a crisis made entirely in Moscow. Speaking the day Mr. Yanukovych fled his palace in Kiev, Mr. Putin lied to President Obama about Russia's actions and intentions. So did his foreign minister, Sergei Lavrov, in calls with Secretary of State John Kerry. If the blitzkrieg succeeds, Russia's assault could end Ukraine's 22-year history as a unitary independent state. The peaceful European order that the U.S. has paid such a high price to establish after the collapse of the Soviet Union is also in danger.

Entering his 15th year in power, Mr. Putin has never concealed his ambition to recreate Russia's regional hegemony. He has replaced Soviet Marxism with ultra-nationalism, contempt for the West and a form of crony state capitalism. He bit off chunks of Georgia in 2008 and paid no price, but Ukraine's 46 million people and territory on the border of NATO are a bigger prize. His updated Brezhnev Doctrine seeks to entrench authoritarianism in client states and prevent them from joining free Europe.

More at the link.

A fabulous editorial!