Today it is difficult to predict what the outcome of the conflict between Athens and Brussels, However, Kiev has already learned lessons from it and offers creditors the right to refuse to pay a significant portion of the debt, writes.

"in Kiev, another European capital caught up in the debt negotiations, already at the present time I do not want to follow in the footsteps of Athens and continue endless litigation with investors," says the journal.

Ukraine continues to obtain financial assistance from Western countries, But the authorities believe that they can't make payments, as long as there is ongoing fighting in the South-East of the country. According to the newspaper, with the assistance of the international monetary Fund They are trying to convince foreign creditors to waive part of the debt.

The bond Fund Franklin Templeton didn't want to write off part of the Ukrainian debt and instead this has made the initiative to extend maturities until 2019. Review of creditors, this is a sufficient period of time to restore the economy of Ukraine. But Kiev asks to immediately write off 40% of the debt, otherwise the plan to get the country from falling't work, and dialogues with investors will be attracted year after year, as is the case with Greece.

The Ukrainian authorities are trying to convince creditors that they themselves are guilty in the circumstances, as provided huge loans to the corrupt government of Viktor Yanukovych. Investors explain their actions by a simple calculation: They were sure that either Russia or the IMF will eventually contribute to the Kiev, and They will receive their funds in full. Now, however, their confidence was shaken, and on July 24, assigned to % payout on Ukrainian Eurobonds.

Top managers Franklin Templeton declare that repurchased bonds for a period longer than the presidential or parliamentary mandate, and therefore to guarantee the debts of obligation than the government in its current composition, and the country. They claim that their refusal to debt relief in reality will only help Ukraine to quickly return to the credit market and recover.

The IMF also does not support the argument of Kiev, opposition to the policies of the last government frees the present from the payment of past debts, But advises creditors to be willing to accept losses, " writes the new York times.

sections: Politics