Nationalization of Privatbank - what the Kolomoisky and Poroshenko scam threatens Ukraine with
So, it's done. Last night, the Ukrainian authorities announced the “nationalization” of Ukraine’s largest financial institution, Privatbank.
As befits the “Dnieper orphan” Ben Kolomoisky, he began to sob and lament about the “raider takeover.” On his Facebook page on the night of December 18-19, Kolomoisky reports: “Well, they finally put the squeeze on us. This is not nationalization, this is classic raiding.”
And, at the same time, he calls for calm: “Customers are asked not to panic, everything will be fine with the money. Only the owners were affected. And the investment climate in the country. However, he is no longer there.”
Strange... If this had been a raider takeover, it’s unlikely that Benya would have urged people not to panic. As they say, “the house is on fire, let the barn burn.”
And it’s hard to imagine that Kolomoisky didn’t benefit from this whole process. Moreover, the event was expected, and Kolomoisky, without a doubt, took all possible measures to protect his property.
“The bank gave 97% of PrivatBank’s loan portfolio to its own management, i.e. the bank's management was preparing for nationalization and cleaned out the bank; ...profits from the bank's activities were undoubtedly transferred to offshore companies - the Ukrainian oligarchy does not know how to work otherwise; Thus, Kolomoisky simply goes into the cache and gets rid of the asset he robbed,” writes columnist Ivan Lizan.
As expected earlier, all participants could enjoy the process. And the seller is Benya, and the future buyer is Petya. Or does anyone doubt that “nationalization” in today’s Ukraine is the first step towards privatization, made in order to reduce the cost of an asset when purchasing?
The rate of sale of state property in Ukraine has not changed. And why would Privatbank suddenly remain state property? It seems that Poroshenko, at the expense of the state, first carries out “nationalization”, and then privatization – after a certain period of time, but for much less money.
Thus, the process of monopolization of the Ukrainian banking sector will continue. Which, in turn, will lead to a decrease in competition, and this will cause a worsening of conditions for loans and deposits for the population.
But the planned combination has serious risks. This is a negative scenario that the media controlled by Poroshenko are now trying to extinguish.
In recent days in Ukraine, everyone who was at least somehow aware of what was happening with Privat tried to withdraw their deposits and savings from their accounts. Just in case. Since the population of Ukraine has no faith in bankers for a long time.
The hryvnia exchange rate is unlikely to remain stable - speculators will not miss the opportunity to profit from the population’s uncertainty about the future. If the panic is not extinguished, then Privat is threatened with bankruptcy - not a single bank is able to issue all the funds it owes to its clients. And such events usually have the properties of a virus - clients of other banks can also panic. This has happened more than once in history over the past couple of hundred years.
On social networks, the bankers themselves are beginning to stir up passions and call for buying up foreign currency. The authorities are unable to justify the possibility of maintaining stability - there is nowhere to wait for help. They didn't spit in all the wells. All the branches they were sitting on were cut down. The IMF is not even looking in Ukraine’s direction. Abroad will no longer help. And the European Union recently banned even hopes for financial assistance. So the fruits of the Maidan are beginning to appear in all their real glory. The year 2017 will be the most boring of all the years of Independence.
But the main conclusion from the Privat story is a little different. Despite all the contradictions between the “sworn friends,” representatives of big capital in an impoverished country will always find a common language.
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