A possible technical default will not affect the Ukrainian banking system or the financial state of the country's citizens, Finance Minister Natalie Yaresko said on the TSN Tyzhden TV program on Sunday night. She said that the suspension of payments on foreign debts is equal to a technical default, but "we should not be afraid of this word. Someone deliberately uses [the word] to intimidate people when it is not necessary to do this," Yaresko said.