Ukraine and Russia have been some of the countries at war with the economic crisis in the two nations. While Russia is suffering from the continuous drop in oil prices Ukraine is suffering from an international ban. A prohibition and sanctions that George Soros think are some of the reasons behind the crisis in the economic situation of Russia. Soros hence call for international intervention from countries and the European Union. From his writing; he supports the idea that Ukraine, when out of sanctions will help boost its economic status. An improvement in the economic situation means a change to even the European Union itself.
The Ukraine crisis is making the country suffer a great deal. First, Soros identifies how the situation has worsened over time. The nation’s banking system; financial institutions have continued to collapse. It is sinking into public debts, and its political situation is a still a mess. However, it cannot be compared to the situation in 2007 and 2012. The crisis is however at an alarming rate according to Soros. Ukraine has a lot of debts and creditors who are yet to be cleared. As a result, it has propagated the already present crises.
Sustaining Ukraine’s Breakthrough
Soros thinks that the country has already suffered enough. Through international assistance, it will enable to get back on its feet and pay the debts. After paying the debts, the country will have a chance to develop its economy again. Ukraine is not a member of the European Union; Soros still is of the view that despite that there is still a chance to revive the country. Ukraine is already in the plea for the association of the nation with the European Union. The past relationship to Soros is secondary and a relation that has had lots of rivalry between Russia and the sovereign body.
Back then Russia was of the powerful and a great dominance in the European Union. However, it maintained constant aggression with Ukraine with imposed bans. The bans have affected Ukraine a great deal. George Soros was against this move from the start because the crisis is a reminiscence of the 2008 crisis in the American states. He is positive that the current change of bureaucracy in Ukraine from learned young citizens would help the nation recover from the shock. Other international bodies can help Ukraine through the political arena of those bodies. Besides, the European Union can play a significant role according to Soros of helping the nation recover financially from the turmoil.
Soros opinion, in this case, is good and a relation of his concern with his open society foundations. Most of his writing and books have had a great role in promoting change in the political and economic position of different countries. He as the founder of the most influential hedge foundation has a significant say. It is especially in countries not delivering democracy in respect to principles of an open society. Nations need to consider his opinion and come to the rescue of Ukraine.
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