10 April 2009

Financial Crisis in the UK and Ukraine

This week on 7th April we held another joint meeting with the British Ukrainian Society here in Kyiv. 88 people attended to listen to our guest speakers - Richard Spring MP (Vice Chairman of the Conservative Party) and Igor Mitiukov (Managing Director of Morgan Stanley in Ukraine and previously Ukraine Ambassador to the UK). My personal thanks to Richard and Igor.

Many of our members informed me later that this was one of the best meetings we have had this year.

The outlook for the remainder of 2009 is gloomy in both of the above mentioned economies.Interesting and thought provoking how SO MANY people now work for the government, both national and local in the UK. The salaries of the CEO's of many local authorities outways those of senior managers in large private sector companies.

In Ukraine we have the dual problem of economic 'mess' and political instability.
Ukraine does not have the social support infrastructure as in a developed economy.
I could go so far as to say that 'Capitalism' is supreme in Ukraine and we have more socialism in the UK!!!

We will see what is happening in the property market in our next meeting on 29th April.

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