Federica Mogherini: EU welcomes nationalization of PrivatBank

This was stated by EU High Representative for Foreign Affairs and Security Policy Federica Mogherini following the meeting of the Ukraine-EU Association Council in Brussels on Monday, an Ukrinform correspondent reported.

"I know Prime Minister [Volodymyr] Groysman very much wanted to be here as well. I spoke to him over the phone, but I know he had to stay in Kyiv today. Let me use this occasion to commend Prime Minister's, President's, Government efforts to restore confidence in the financial sector, as we have seen through a bold and courageous decision to nationalize PrivatBank," the EU High Representative said.

She noted that step should help ensure that all banks in Ukraine are held to the same prudential regulatory standards, making the banking sector stronger and more resilient. “It is also a vital component of larger reform efforts that the European Union together with international partners supports strongly,” Mogherini added.

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