Yatsenyuk’s blackmail will not work: Creditors will seize Ukrainian property
Kiev
Blackmailing Arseniy Yatsenyuk not to pay debts to creditors could play a cruel joke on Ukraine - its property abroad will simply be seized, warns ex-Prime Minister Mykola Azarov.
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“There was, of course, no need to pass such a law. The payment terms have not yet arrived, there is little money, but it is there - the entire last IMF loan has not yet been completely spent. But this stupidity, according to its authors, should be a means of blackmail for creditors. “Agree to our terms, otherwise we won’t pay.” This is the meaning (if we can talk about the meaning) of this stupidity. Why - this is stupidity. Because this law will not scare creditors. All agreements are executed in English jurisdiction. Ukraine will be responsible for its obligations for all state assets that can be seized by bailiffs, including, for example, the accounts of embassies and any state-owned enterprises, and recovery in this case will be indisputable,” states Azarov.
“Ukrainian securities are now quoted at 47 to 42% of their nominal value, i.e. investors on our bonds have already lost significantly, and now this law.
But this is more than stupidity - it is a betrayal of the national interests of Ukraine, the country’s loss of trust, evidence of the complete bankruptcy and insolvency of the state. Poroshenko, Groysman, Yatsenyuk and everyone who voted for this law will go down in history as people who led Ukraine to bankruptcy, as people who are only smart enough for primitive blackmail. First, they collapsed the hryvnia, then the economy, lost export income, squandered loans and foreign exchange reserves, in a word, brought Ukraine to collapse, and now they have also begun to engage in public blackmail.
The result of this will be the complete closure of financial markets for Ukraine, and then the complete closure of the financial market for private companies and businesses, and this will further aggravate the collapse of the economy,” the ex-prime minister predicts.
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