Copyright © 2021

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

How to create a Ukrainian economical miracle

How to create a Ukrainian economical miracle

Segiy Fursa

Ukraine should offer the global financial corporations an alternative to expensive and unfriendly Moscow – democratic and liberal Kyiv

When looking at a retired tourist from Germany, one should not only envy his happy and long-time seniority, but understand that he is a representative of the same generation, on the shoulders of which the German economical miracle was created.

The Ukrainians that are 25-45 years of age today may become the generation to build our miracle. Not a miracle out of nowhere, preferably, as this title has more to do the PRD and the idea of zero-rate loans.

It is essential to understand that we cannot count small change and pose low goals. We cannot compare the situation with a difficult period and be happy that everything is not as bad now as it was in 2013. Because it cannot get any worse.

It is better to strive for perfection and miss than aim for greyness and hit it – these words best characterise the situation with reforms on the Ukrainian financial market. It is not enough to achieve stable work of the banking system and the funds market. Ukraine has to strive to become the financial and economical centre of Eastern Europe. Not an appendix for Warsaw, but a full-fledged player.

Ukraine may become the new magnetic centre for the states of the former USSR. They can be attracted with soft power, in contrast to Moscow’s aggressive pressure. Militarisation and isolation of the latter are unlikely to encourage the development of the financial market. Kyiv is quite capable to create all conditions necessary to interest all those who are uncomfortable in Moscow. All those who feel too small for the Russian market.

If before the Ukrainian companies want to Warsaw for the Polish pensioners’ money, now they, as well as Georgian and Belorussian businesses and companies of Moldova, Azerbaijan, Armenia, should go to the Ukrainian market.

The regulatory base, on its part, should motivate the translational financial corporations by creating regional centres not in expensive and unfriendly Moscow but in democratic and liberal capital of Ukraine.

Kyiv has all the chances of becoming a new centre for the Slavic world, an alternative to Moscow. A more attractive, contemporary, open one for the global world. For this, the financial sphere should become more open: artists should not be the only ones to work on return the glory of a Slavic capital to Kyiv. Financiers are people as well.

Source: NVUA

Translated by Mariya Shcherbinina

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Related Posts