How to go long / short small countries?

How can I go e.g. short Ukraine or other small countries?

I do not see any ETFs out there that would cover smaller countries.

Are there other ways to get exposure to the fate of their economies?

 

Why not short their currencies? Otherwise, buy sovereign CDS on them...

 

Oanda lets you trade EURPLN (Polish Zloty) and EURHUF (Hungarian Forint). If you want to bet on further deterioration in the Ukraine one way to get indirect exposure is to go long those spreads.

 

If they have their own stock market, they usually have an index what you can short...