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 Poroshenko criticizes parliament's decision on restructuring foreign currency loans: "I saw populist politicians giving unrealistic promises"

President Poroshenko considers the adoption of the bill #1558-1 on restructuring of foreign currency consumer loans at the official hryvnia exchange rate at the contract date to be a populist decisions.

He said this in an interview with Ukraina TV channel, Censor.NET reports citing Ukrainian News.

"The fact that extremely disappointed me and caused the greatest concern about the future of the coalition and parliament is yesterday's vote on the conversion of foreign currency deposits. Unfortunately, I saw populist politicians, who were trying to please a part of society, endangering the existence of the financial and banking system of the country, the stability of the economy and giving unrealistic promises," he said.

Read more: Parliament passes law on foreign currency loans restructuring

Poroshenko called the decision of the Parliament unjust. "It's just not fair to meet the needs of 65,000, that is less than 0.1% of those who does not want to, or sometimes cannot service foreign currency loans, at the expense of all taxpayers," the head of state said.

He also drew a parallel between the decision of the parliament and the situation in Greece. "Clear parallels can be drawn with Greece, when the Greek politicians tried to buy voters, promising not to do anything, not to carry out reforms and responsible fiscal policy ... It turned into unemployment, queues to paralyzed locked banking system and jeopardized the existence of the state. This is a demonstration of the price that a society pays when it believes populism of irresponsible politicians," Poroshenko said.

Read more: "This is populism, not justice": Jaresko on foreign currency loans restructurisation

However, he said he was proud of the society and its responsible attitude regarding this bill. "Yesterday, after the vote, the politicians expect that they would be met with applause from the society, they thought they would be liked, and everyone would come out to greet them with flowers, but they actually received a very cold shower of hatred to such old style politicians," the president said.

Poroshenko also stressed that in this situation the politicians demonstrated themselves to be unworthy of their constituents. The president did not say whether he would veto the law if it is signed by Parliament Speaker Volodymyr Hroisman.

Read more: Decree on reversal of foreign currency loans bill vote is introduced to Verkhovna Rada

Currently seven MPs propose the Parliament to cancel the results of the vote for the law on conversion of foreign currency loans. Bankers believe that the law on conversion of foreign currency loans according to the rate on the date of contract is populist and will have disastrous consequences for the banking system in the event of entry into force.

 
 
 
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