Signing the Association Agreement with the EU could lead to a deterioration in the Ukraine’s balance of trade - Sergey Glazyev

21 September 2013

Signing the Association Agreement between Ukraine and the European Union, which is scheduled for late November, could lead to Ukraine defaulting, said Advisor to the Russian President, Sergey Glazyev, on Saturday in Yalta, during the YES 10th Annual Meeting “Changing Ukraine in a Changing World: Factors of Success “.

Signing the Association Agreement between Ukraine and the European Union, which is scheduled for late November, could lead to Ukraine defaulting, said Advisor to the Russian President, Sergey Glazyev, on Saturday in Yalta, during the YES 10th Annual Meeting “Changing Ukraine in a Changing World: Factors of Success “.
"If Ukraine signs the Association Agreement, and that results in a deterioration of its trade balance, the question arises, “who will pay for Ukraine’s default?”, which we believe is inevitable? If Ukraine defaults, the country’s foreign exchange reserves will only last for six months.  The overall costs of overcoming the consequences of a default in Ukraine will run to 25 or even 35 billion euros. Is Europe ready to take on this burden of financial responsibility?” said Putin’s advisor.
At the same time, Glazyev reminded the audience that Russia is not against free trade areas. “The President has mentioned many times that he supports the creation of a large area for cooperation, stretching from Lisbon to Vladivostok”, he finished.

The 10th Yalta Annual Meeting is streamed live at korrespondent.net and
yes-ukraine.org in English and Ukrainian on September 20th and 21st.

Live Webcasts will also be available on the websites of ICTV (ictv.ua), Channel 5 (5.ua), «Kommersant» newspaper (kommersant.ua), as well as the online edition of "Ukrainska Pravda» (pravda.com.ua).

The official Twitter of the 10th Yalta Annual Meeting: @yes_ukraine, hashtag: #yalta2013

Special Partners of the 10th Yalta Annual Meeting include:

DTEK
ALFA-BANK (UKRAINE)

Partners of the 10th Yalta Annual Meeting are:

Shell

Smart-Holding

DCH

Visa Inc.

International Renaissance Foundation 

State Agency for Investment and National projects of Ukraine

Media-partners:

Euronews

Korrespondent
Korrespondent.net

ICTV
ERA FM

Yalta European Strategy (YES) is the largest social institution of public diplomacy in Eastern Europe, providing an open and equal dialogue on global issues affecting the European Union, Ukraine, Russia and other countries. This non-partisan organisation was established in 2004 by the Ukrainian businessman and public figure Victor Pinchuk.

The YES Annual Meetings held in Yalta’s Livadia Palace have become an open platform to discuss and look for new ideas and views on paths to European, Ukrainian and global development. Every year these meetings bring together over 200 politicians, diplomats, statesmen, journalists, analysts and business leaders from more than 20 countries.  The dialogue on global challenges broadens the vision on the situation inside Ukraine and the prospects for the country’s development in the modern world. It is also an incentive to find common ground between countries, common interests and values.

At the YES Annual Meetings the world's top opinion leaders present their visions of current and future trends which impact all spheres of life of society. In 2010, 2011 and 2012 the events were opened by Presidents Viktor Yanukovych, Bronislaw Komorowski, Shimon Peres and Prime Minister of the Republic of Turkey Recep Tayyip Erdoğan. YES Annual Meetings key speakers have included Mykola Azarov, Kofi Annan, Egemen Bagis, Carl Bildt, Tony Blair, Gordon Brown, Richard Branson, James Wolfensohn, Newt Gingrich, Herman Gref, Arkadiy Dvorkovich,  Robert Zoellick, Bill Clinton, Paul Krugman, Alexei Kudrin, Leonid Kuchma, Yuri Milner, Condoleezza Rice, Lawrence Summers, Radoslaw Sikorski, Javier Solana, Dominique Strauss-Kahn, Shashi Tharoor, Strobe Talbott, Niall Ferguson, Vladimir Filat, Joschka Fischer, Stefan Fule, Gerhard Schroeder, Muhammad Yunus and many others.

Official website: www.yes-ukraine.org

Victor Pinchuk Foundation is an international, private and non-partisan philanthropic foundation based in Ukraine. It was established in 2006 by businessman and public figure Victor Pinchuk. Its goal is to empower future generations to become the change-makers of tomorrow. To achieve this, projects are developed and partnerships are built in Ukraine and worldwide.

in people, to boost human capital;
in society, to promote social responsibility;
in the world, to foster a more integrated world.

The projects of the Victor Pinchuk Foundation include, among others: the network of neonatal centers Cradles of Hope, the largest private scholarship programme in Ukraine, Zavtra.UA, the WorldWideStudies scholarship programme for Ukrainian students studying abroad, the centre for contemporary art PinchukArtCentre with its biannual prizes Future Generation Art Prize and PinchukArtCentre Prize. The foundation also hosts the Davos Philanthropic Roundtable and Davos Ukrainian Lunch organized each year at the occasion of the Annual Meeting of the World Economic Forum and supports the international network YES (Yalta European Strategy) to foster Ukraine’s European and global integration, as well as a startup online platform for fostering philanthropy in Ukraine, the Philanthropic Marketplace. The Foundation is a member of the European Foundation Centre and the Ukrainian Grantmakers Forum. It cooperates with the Clinton Global Initiative, the Brookings Institution, the Peterson Institute for International Economics, the Peres Center for Peace, the Tony Blair Faith Foundation, and other nongovernmental organizations.

Official website: pinchukfund.org

Contact information for Media enquiries:

[email protected]  

Tel.: +380 44 494 11 48

Back to news list
Andriy Kobolyev
Andriy Kobolyev
CEO, Naftogaz of Ukraine, 15th YES Annual Meeting, 2018
«Nordstream 2 is a much wider problem than just gas matters. That’s about security of Ukraine, it’s a matter of our survival.»