11:32 10.10.2012

Ukraine on verge of third financial crisis, says CPU leader

1 min read
Ukraine on verge of third financial crisis, says CPU leader

Leader of the Communist Party of Ukraine (CPU) Petro Symonenko has stated that Ukraine is on the verge of the third financial crisis.

Despite the authorities' statements that Ukraine is gradually overcoming the financial crisis, various economic indices are signaling the opposite, Symonenko said at a meeting with voters in Kremenchuk (Poltava region), according to the party's press service.

Symonenko said Ukraine has lost 80% of its main funds, and the farming sector is practically stagnant, while the large-scale industry and other important spheres are decaying.

"Today the whole world is on the verge of a third financial crisis. While most countries are getting ready for economic problems in advance, Ukraine may not avoid the third collapse," the CPU leader said.

Symonenko said the economic situation in many aspects depends on each Ukrainian. He said that the economic recession would continue if Ukrainians fail to change anything at the upcoming 2012 parliamentary elections.

"The CPU proposes an alternative way – support for education, affordable housing, the nationalization of the main spheres [of the economy], and stable relations with Russia and the EU. Each of us can help prevent there being a third financial crisis in Ukraine," he said.

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