How to create a Ukrainian economical miracle



2014/07/01 • Analysis & Opinion

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


  • sandy miller

    Bravo….Ukraine…get going. Russia has shown it’s true face. Countries may fear them but they don’t like or respect them. Who wants to work with a country that is so dangerous and unpredictable. If Putin continues on this dangerous course he can’t kill Ukraine anymore but he is already hurting Russia. They will be forever isolated.

  • Dennis Fetcho, “The Fetch”

    Be pragmatic. Just go steal a few billion here and a few billion there like Ukraine has been doing with natural gas from Russia. Let’s get real: a government of thugs that represent a people who are thugs are not going to be able to generate anything remotely resembling an economic machine.

    We Americans need to dump any support for Kiev before we end up with another failed State on our hands.

  • Problem Solver

    Pro-American, Pro-EU, Pro-Russian, Pro-Ukraine?

    The IMF and EU treaties mean major changes for Ukraine.

    This blog has been discussing some of the economic ones.