Soros Says Ukraine Needs Marshall Plan Style Bailout

Ukraine needs financial aid on the scale of the Marshall Plan that set Europe on the road to recovery and prosperity after World War II, investor and philanthropist George Soros said Wednesday.
The crisis in Ukraine exploded last year when former President Viktor Yanukovych abandoned plans to sign an association agreement with the European Union, and instead took Russian President Vladimir Putin’s offer of help.

“Europe, true to form, demanded a lot and offered little,” Soros said in London. “It was not difficult for Putin to come up with a better offer.”
Mass protests forced Yanukovych from office last month, and a new pro-EU interim government took over. But the country now faces an economic crisis and huge military pressure from Russia, which has mobilized troops and threatens to annex the southern province of Crimea.
“It’s very important to respond, and to respond in the right way, not necessarily to impose sanctions on Russia but to help Ukraine financially,” Soros said. “Something like a European Marshall Plan for Ukraine.”

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza