The leader of the Front for Change initiative, MP Arseniy Yatseniuk, forecasts that Ukraine's banking system will not overcome the financial crisis soon, according to Kyiv Post.

He said this after a meeting of the Diplomatic Club attended by famous Polish economist Leszek Balcerowicz, according to the Front for Change's press service.

According to Yatseniuk, the Ukrainian banking system should be ready for currency rate fluctuations in autumn.

"The central bank and the government should be ready for this, to maintain the public's trust in the national currency and prevent a second possible wave of distrust in the banking system," he said.

"Unfortunately, we're observing a situation in the world in which the real economic sector starts servicing business, rather than the banking system servicing the needs of the real economy," Yatseniuk said,

Yatseniuk also said he was sure the world economic crisis would last at least another year, and crisis in Ukraine at least two years.

"Let's start from the fact we have not reached the bottom. This concerns not only Ukraine but the world in general. As for me, crisis in the world will last at least one more year. There is a definite time lag between the world and Ukraine, meaning that if the world overcomes the crisis in 2010, Ukraine will start overcoming it in 2011," he said.


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