Gontareva treats Ukrainians like suckers; they don't need cheap, long-term loans.

Gontareva

Valeria Gontareva

The banking system's losses this year amounted to UAH 11 billion.

And this despite the fact that, according to Gontareva, "the banking system has been cleansed" (this statement was made two months ago, on August 28). Back then, two months ago, Gontareva said this was only the first stage of the system cleansing. Then she would return the hryvnia to the banks, and the system would be revived. Two months have passed. During this time, several more banks have collapsed, billboards advertising deposits at 22-23% have appeared on the streets, but lending remains nonexistent. And it won't be.

( Read more about her in Valery Gontarev's article: "The Glitter and Machinations of the Queen of Coins ")

Gontareva currently has four priority tasks that she is purposefully implementing.

1. Nationalization of PrivatBank. A meeting is held weekly on this matter, and the NBU is developing secret plans that are no different from the plan conceived a year ago, which involves nationalizing banks under the auspices of Oschadbank. Is there a chance of nationalization? Just like a year ago, it's 50/50. The main problem is fear of Kolomoisky. Therefore, the only thing Gontareva is doing for now is forcing the bank's owners to invest as much of their money as possible, so they can later try to close the bank.

2. Dispossession of personal enemies. Three businessmen—Bakhmatyuk, Zhivago, and Polischuk—are just that. Their goal is very simple: not to try to reach an agreement, as all the owners say, or to try to get their money back, but to seize property and then resell it. Simply put, businesses that were worth billions before the crisis and still employ tens of thousands of people are being resold for a hundred million.

3. Shielding friends from harm. In recent months, Gontareva hasn't once mentioned Delta Bank owner Lagun, who has caused far more damage than many of his personal enemies. After shutting down the previous government's washing machine banks, we haven't heard Gontareva accuse Klymenko, Arbuzov, or Oleksandr Yanukovych. Why? She once helped Lagun buy and sell banks. She helped Yanukovych place government bonds. This, incidentally, explains the inappropriate reaction to Taruta's brochure, which clearly states that ALL of Yanukovych's bonds and debentures were sold through Gontareva's company.

4. A completely new twist in the NBU's activities has been its desire to control all Ukrainian property abroad. Yesterday, the NBU issued a statement, written in very complex language, the essence of which boils down to one thing: everything you own abroad is illegal (all our employees have illegal, according to our legislation, accounts in other countries). Why does the NBU need this? My answer is very simple: it's Azarov's complex, which believed that every entrepreneur is a thief. Gontareva goes further: every Ukrainian should be under her personal control.

And now the most important thing: there's no talk of resuming lending at all. Loans will enable Ukrainians to develop. And Gontareva simply doesn't need that right now. Because wealthy Ukrainians will demand low interest rates and long-term loans. This means they'll be harder to bankrupt.

On the topic: Sergey Taruta. The secret coordinator of Ukrainian oligarchs.

KONSTANTIN ZHEVAGO. THE RISES AND FALLS OF A DOLLAR BILLIONAIRE

Business capital

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