Nationalization of PrivatBank is a bold solution that will restore confidence in the Ukraine’s financial sector. This was stated by the representative of the EU for Foreign Affairs and Security Policy Federica Mogherini at a press conference after the EU-Ukraine Association Council in Brussels on Monday, an UKRINFORM correspondent reports.

“I would like to take this opportunity to commend the efforts of the Prime Minister, President, and the government in restoring confidence in the financial sector, which we see in a bold decision to nationalize PrivatBank,” said the EU high representative.

She noted that it will contribute to the achievement of the relevant criteria by all Ukrainian banks, and will make the banking sector stronger and more sustainable.

It should be noted that at a meeting of the Cabinet of Ministers of Ukraine on December 18, where issues of ensuring stability in the state financial system were discussed, the decision was made to transit the PrivatBank to 100-percent state ownership.

Photo: Internet