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to it. The constitutional agreement of June, 8,
1995 organized conditions for process
promotion. Five issues became “the apple of
discord” among deputies: 1) authority
distribution among branches of government;
2) state symbols; 3) the Russian language
status; 4) the status of the Crimean Republic;
5) the problem of private property. Five
commissions of conciliation and Special
deputy commission headed by M. Syrota,
were formed. The commissions conciliated
views of different factions and parties on
every contradictory article of Constitution.
During famous “constitutional night” (June,
27-28) Fundamental Law of Ukraine was
adopted. June, 28 was proclaimed a national
holiday as the day of adoption of
Constitution.
Adoption of Constitution of Ukraine
completed the process of the state political
system formation as a unitary undivided
organism.
September, 2 The monetary reform. Hryvnia, a national
1996 currency, was put into circulation. In the
course of the reform exchange of coupon-
karbovanets was conducted at the rate 1
hryvnia=100 000 coupon-karbovanets. (In
1994 500-thousand denomination banknote
appeared, but it was worth 4 dollars only).
Due to the well-thought strategy of the
reform, it turned out to be relatively
successful and did not cause any financial or
social collapse.

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