George Soros’ Views on How to Support the New Ukraine

After a series of scary violence, the Ukrainian revolution has resulted in a positive outcome. It beats logic how a group of citizens carrying sticks and cardboard boxes-shields overpowered the police who were firing live ammunition. While there were many casualties, the protestors were able to kick President Victor F. Yanukovych out of power. Even as Ukraine is at the receiving end of Russian military assault, its citizens have kept their spirits high and are hoping to restore peace in their country.

A new Ukraine

According to Soros, the new Ukraine is striving to become a complete opposite of the old one that was characterized by numerous integrity breaches and corruption scandals. This transformation proves that Ukrainian nationalists are open-minded and willing to do what all it takes to open their country to democracy, modernity, and Europe. Maidan has been instrumental in transforming the nation and making it a safe and a better place. Maidan’s supporters have transitioned from opposing to being active nation builders.

Loyalty

Many citizens have proved their loyalty to their nation by relinquishing their well-paying jobs to serve in the government as well as parliament as volunteers. For instance, Natalie Jaresko, who previously served as an investment banker is now the finance minister earning a few hundred dollars per month. The volunteers are playing a significant role in managing the internally displaced people camps and serving as advisors to local governments and ministers.

Challenges that new Ukraine faces

The goal of becoming the opposite of the old Ukraine is proving to be a difficult task for the new Ukraine for George Soros. The old one is firmly rooted in a state bureaucracy, which has worked in close collaboration with corrupt politicians and business leaders. The determined effort of Vladimir V. Putin, Russia’s President, to destabilize Ukraine is frustrating the efforts of reformers.

The new Ukraine is also keeping secrets from the rest of its citizens. The Ukrainian public does not know that the radical reforms have only been formulated but not implemented. The nation is lacking a demonstrative project to prove to its citizen that the reforms are in play. For example, even after the restructuring of Ukrainian police force, citizens still need to pay bribes to get driver’s license.

Read more:
George Soros – The New York Times

George Soros – Forbes

How the European Nation can help Ukraine

European political leaders should take advantage of the largely untapped EU’s borrowing capacity to avail a bigger financial package to the Ukraine. The financial aid will help the Ukrainian government implement the radical reforms.

– The Balance of Payments Assistance docket that was used for Romania and Hungary has idle funds of $47.5 billion while European Financial Stability, which was used for Ireland has unused funds of $15.8 billion. While the use both dockets are limited to Europe, the EU can use them to finance Ukraine reforms.

– Bonds project being carried out by the European Investment Bank could generate over 10 billion. These funds could be utilized to link Ukraine to a bigger European gas market. The changes can enhance the energy efficiency of Ukraine and generate high returns.

George Soros is an established entrepreneur, currency speculator, and terrific investor. He is the owner of Soros Fund Management as well as its Chairman. He founded Open Society Foundations and currently serves as the Chairman.

Learn more about George Soros:
https://www.project-syndicate.org/columnist/george-soros

https://www.project-syndicate.org/commentary/george-soros-shows-why-eu-support-for-ukraine-would-end-up-benefiting-europe?barrier=true