Why the Future of Ukraine Lies in the New Ukraine

As George Soros continues monitoring the European crisis, the billionaire financier and philanthropist closely follows the events unfolding in Ukraine. George has written widely about the new Ukraine that was born during the pro-European protests. It is these protests that helped oust President Viktor Yanukovych from power. He reports that the spirit is growing stronger and is inspiring thousands of Ukrainians to join.

George Soros speaks favorably about the new Ukraine particularly because of its aspiration to bring reforms in the country. The old Ukraine before it was not keen to allow reforms because of widespread corruption. As the founder and chairman of the Open Society Foundations, George supports the new Ukraine’s goal of introducing participatory democracy in the country. Thousands of people support this move, and that is why they have been gathering in Maidan in support of the opening of Ukraine to democracy, modernity and Europe.

As George Soros observes, many Ukrainians have sacrificed their well-paying jobs to volunteer in government and Parliament. It is these volunteers who are also helping thousands of internally displaced people in the country. However, the new Ukraine is under threat of suppression as it is being challenged by the old Ukraine that is comprised of the state bureaucracy that is supported by a business oligarchy. The reformists are also under direct military assault from Russians who are supporting separatists in the eastern side of the country. Vladimir Putin, the Russian president, is doing all he can to destabilize Ukraine.

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George Soros – Project Syndicate

George Soros – Business Leader, Philanthropist

The new Ukraine remains a well-kept secret from the rest of the world. Although radical reforms have been put in place, their implementation is yet to take place. Sanctions against Russia continue to hurt its economy, but Putin has not relented in his hostilities against Ukraine. The new Ukraine is on the verge of getting destroyed even before it is fully established.

George presents this situation concerning Ukraine in his writings. He has managed to get this information owing to his close involvement in the country. He states that Ukraine is capable of defending its sovereignty militarily only if urgent financial assistance is offered. He estimates that Ukraine is in dire need of $15 billion, and for Western powers to commit to offering more financial aid depending on Russian hostilities and the success of the reforms. Just like in other democracies, the transition in Ukraine is moving slowly. However, the European Union is moving even much slower, and this has given Putin a foothold.

George observes that the future of Ukraine is highly threatened and even more, that of the European Union. Losing Ukraine to Russia will be very detrimental as it would make Russia believe that it can survive without the European Union. It will also see the rule of force triumph over the rule of law. However, if European countries will help Ukraine financially, Putin will not manage to continue with his aggressive acts. George suggests that a stable and successful Ukraine would render Putin’s narrative that Russia’s financial woes are due to the Western hostility, rather than his aggression, unconvincing to Russians.

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