Mogherini: PrivatBank nationalization to stabilize banking sector

This step guarantees that all the banks in Ukraine conform to the same regulation standards
14:58, 19 December 2016

The nationalization of PrivatBank is a brave step that will make the banking sector more stable, the High Representative of the European Union for Foreign Affairs Federica Mogherini declared. This was reported by Interfax-Ukraine.

"Let me use this opportunity to speak about the efforts of the Prime Minister, the President and the government in these hours to restore confidence in the financial sector, as we can see through brave decision to nationalize PrivatBank. This step is to help ensure that all banks in Ukraine conform to the same regulatory standards and will make the banking sector more stable, "Mogherini said.

Related: PrivatBank depositors’ money is now under 100% state guarantee

Earlier it was reported that after the full stabilization, the PrivatBank will be sold. The Ukraine’s Finance Minister Oleksandr Danyliuk announced that during the briefing together with the head of the National Bank of Ukraine Valeriya Hontareva. TheNational Bank of Ukraine states that transition if the bank into state ownership is the only way to preserve the coasts of the depositors and save the financial system.

Related: EBRD fully supports decision to nationalize PrivatBank

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