George Soros Backs The Provision Of Financial Assistance To Ukraine In order To Revive Its Economy

When President Viktor Yanukovych was ousted from power, a new Ukraine was born. Irrespective of Russia’s aggression, the spirit of change in Ukraine is still stronger. The Russian forces are working with separatists in eastern Ukraine. George Soros Ukraine posits that the new Ukraine is seeking to transition from the old Ukraine, which was marred by corruption. Most Ukrainians are open to modernity as they are experimenting with democracy. To this end, the populace of Ukraine has been championing for the implementation of the reform agenda.

Soros asserts that Maidan’s supporters have transitioned from the opposition to building of the nation. Most of the people working in parliament and government are volunteers who are inspired to serve their country. The current minister of finance, Natalie Jeresko, left his lucrative career of investment banking. He is now earning few dollars but his resolve to reform the country is at an all time high. Individuals that have studied abroad have returned to participate in the reform agenda by taking up varying roles in different public institutions. Currently, volunteers are helping many internally displaced persons in Ukraine besides providing advisory services to ministers and individuals working in the local governments.

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George Soros – The New York Times

George Soros – Business Leader, Philanthropist

Soros argues that the major challenge facing the new Ukraine is that the state bureaucracy practiced by the old Ukraine. The business oligarchs propel this bureaucracy. In addition, the reformers are against Russia’s hostility considering that President Putin wants to destabilize Ukraine at all costs. Soros posits that Putin is prepared to destroy the new Ukraine before it is able to establish itself. Russia is facing a financial crisis owing to the sanctions imposed in the country by the U.S. and the EU. Putin does not want his popularity to be destroyed by the economic downturn in Russia and to this end; his resolve to destroy Ukraine is even higher.

George Soros contends that Russia has a strong military. This is because Putin has much power that enables him to have better-armed forces and mobilize military power as compared to Ukraine. However, Soros believes that the U.S. and Europe have the potential to outbid Russia financially. Soros asserts that the EU may have failed to intervene in the Ukraine crisis given the Greek crisis, which was born out of the euro crisis. In addition, the Minsk agreement may have forced the European Union to exercise a tight financial leash against Ukraine.

George says that the European leaders, especially the German leadership, did not handle the Greek crisis in an effective manner. These leaders provided emergency loans to Greece at very high interest rates. In addition, they suggested their own reforms agendas and micromanaged the country instead of allowing Greece to own and undertake their own reforms. These conditions slowed the process of reforms in Greece, thus resulting in the financial crisis. In as much as the Greek authorities are liable for the financial problems, the primary responsibility lay with Germany because it was mandated with the duty of ensuring that the country gets out of the crisis.

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