Its Challenges and Transition towards European Standards
Olga Afanasyeva and Armin Kammel
Olga Afanasyeva and Armin J. Kammel
For the last years, Ukraine and particulalry its financial sector were seeking to gradually apply and comply with EU standards. Latest with the signing of the EU-Ukraine Association Agreement in 2014 the transition towards EU standards has a formal basis. Since then, Ukraine – with strong support from the EU – is in the process of implementing legislative and regulatory measures in order to comply with this Agreement. Against this background, this contribution wants to shed some light into Ukraine’s efforts as well as to explain some of the complexities of this process by providing an in-depth background of the current Ukrainian banking regulation, its economics and the challenges of complying with new EU standards.
The Role of WTO Law and the EU-Ukraine Association Agreement
use of the EU agricultural aid practice. Although certain EU experience is found to be useful, the book generally advocates reducing distortive policies in Ukraine by substituting subsidies with market-based instruments.