Parliament Tries Override Presidential Euro 2012 Spending Cap

KIEV, Ukraine -- Ukraine's parliament will try to override a recent veto by President Viktor Yushchenko of a critical Euro 2012 spending bill, according to a Monday article in the country's largest daily Segodnya.
Senior officials from Ukraine's two largest political parties have agreed in principle to reinstate a plan to pay 1.2 billion dollars from accounts held by the National Bank of Ukraine into Euro 2012 infrastructure repairs, despite Yushchenko's August 3 rejection of the bill.Yushchenko last week vetoed the funding plan saying its passage into law would spike Ukraine's already-worrying double-digit inflation rate, place pressure on the national currency the hryvna, and undermine the government's ability to prevent graft and corruption in the Euro 2012 contracting process.Ukraine's parliament currently is out of session, and is scheduled to convene on the first working day of September.'The money (for Ukraine's infrastructure repair programme to go forward,' will be available by mid-September, according to the article.Ukraine Prime Minister Yulia Tymoshenko, in Friday comments to Kiev reporters accused Yushchenko of playing politics with the country's Euro 2012 preparation effort, and of underestimating the impact of the championship on Ukraine's currently weak economy.'It (Euro 2012) will have a positive economic effect,' Tymoshenko said. 'We cannot miss this opportunity.'The UEFA in April 2007 named Poland and Ukraine co-hosts for the Euro 2012 football championship.Since then Ukraine has struggled to get ready as senior state officials and powerful business tycoons have quarreled over construction contracts, host cities, and finding financing in the face of a national economy deflating at a 12 per cent annual rate.UEFA officials have warned Ukraine could lost part or even all of its hosting rights to Poland or even Germany, if Kiev fails to implement promised improvements to hotel, transportation, and sports infrastructure.UEFA directors are scheduled to meet on November 20 to make a final decision on which cities in Poland and Ukraine are prepared to host Euro 2012 matches.Ukraine meanwhile will be at the height of a national Presidential campaign, with Yushchenko, Tymoshenko, and a third candidate vying to win country's top office in January 17 elections.