Yalta European Strategy (YES) Hosts a Working Lunch in Brussels on Countering the Current Financial and Economic Crisis Faced by Ukraine

At the occasion of the Brussels Forum, on March 18, 2009, Yalta European Strategy (YES), founded by the Ukrainian businessman and public figure Victor Pinchuk, hosted a working lunch on the current financial and economic crisis faced by Ukraine and its impact on Ukraine and the rest of Europe.

The event joined Vice-President of the European Parliament and YES Board member Marek Siwiec, head of EU-Ukraine Interparliamentary Cooperation Delegation Adrian Severin, MEP;
Max Alier, Resident Representative of the IMF, Deputy Director General of RELEX Hugues Mingarelli, representatives of DG Enlargement, ECFIN, and Vice Prime Minister of Ukraine Hryhory Nemyria. The overarching theme of the discussions was the situation in Ukraine and the role the international community and especially the European Union should play to help mitigating the crisis.

According to the YES participants, the economic and financial state of Ukraine is giving rise to concern. They called Ukrainian authorities to take immediate action, without the wait for presidential elections, to avert crisis deepening that might affect the entire EU economy.

YES Board member and President Rothschild Conseil International (1998-2002) of Jean-Pierre Saltiel presented results of the assessment of Ukraine's current economic and financial situation. "Some progress has been made by Ukrainian authorities to restore the talks with IMF, but that positive tendency needs to be maintained" - he underlined.

Addressing the audience Gregory Nemyrya commented on the current state of affairs between Ukraine and IMF: "I believe the IMF mission will resume the talks with Ukraine in the nearest future, we'll settle all disputed issues and receive the second tranche which would demonstrate that Ukraine is trustworthy. This would be another successful step forward to be followed-up by many more." He also stated that "successful privatisation can improve Ukraine's circumstances as it would enable not only replenishing the national budget but also help attract foreign investors."

Alexander Rahr, political scientist from Germany: "Ukraine must give Europe a clear indication as to the country's post-crisis moves, its plans to resolve energy efficiency and internal political issues."