Vicious circle of Ukraine's financial casualties

Posted in the Austria Forum

Since: Mar 14

Location hidden

#1 Mar 21, 2014
There is no secret that current political crisis in Ukraine has greatly aggravated all long standing problems in this country, and quickly falling value of Ukraine's national currency, the hryvnia, is one of the consequences now. Well, at first, Ukraine's Central Bank had been making some efforts to stem the hryvnia's decline, by using its foreign exchange reserves to buy the hryvnia. But not so long ago it declared about its putting a stop to the hryvnia's buyup to support it. It means that the country's Central Bank has not enough reserves for it any more. And soon, as I've heard from one of my old friend, worked in Ukrainian unit of Raiffeisen Bank now, Ukrainian new authorities will have to declare officially about a big devaluation of existing national currency.
But who will defend the renewed hryvnia then, I wonder? Surely, we, European investors! Although in conditions of total collapse of current Ukrainian economy it cannot be done without our making big financial losses, which we cannot afford to do now because of own economic difficulties. The vicious circle, eh?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Austria Discussions

Title Updated Last By Comments
SOLUTIONS MANUAL: Introductory Mathematical Ana... Tue mark 1
Austria far-rightist's presidential bid draws i... (Mar '10) Sep 15 Dubya Tee Eff 81
Probability Concepts in Engineering Emphasis on... Sep 14 mark 1
SOLUTIONS MANUAL: Advanced Engineering Thermody... Sep 13 mark 1
SOLUTIONS MANUAL: Quantitative Chemical Analysi... Sep 13 mark 1
weed, cannabis, grün, mjay Sep 12 BillyB 1
Humans now the major cause of alpine glacier me... Sep 9 Eman 2

Austria People Search

Addresses and phone numbers for FREE