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news.am, Armenia
Sept 17 2010
Criminal and oligarchs in power in Armenia
September 17, 2010 | 20:07
Samvel Abrahamyan, Board Vice-Chairman, Armenian National Congress
(ANC), delivered a speech at the ANC-held rally in Yerevan.
`The criminal and oligarchic system ruling over Armenia goes on doing
its dirty deeds. Abnormal AMD revaluation caused the country's
monetary funds to be scattered on the one hand, and destroyed local
production on the other hand. Armenia officially registered the
sharpest economic decline,' he said. `To overcome the crisis, the
Government accumulated an additional external; debt totaling 1.5bn AMD
(U.S. $4.054m). Amid the global crisis, the rich people lost 50 to 70
per cent of their capital, whereas Armenian oligarchs have amassed
even more. More convincing evidence of the authorities' corruption can
hardly be found. Arbitrary increase in the prices for gas, electricity
and other products remains one of the main means of misappropriation,'
he said.
Abrahamyan enumerated the steps toward the way out of the crisis. He
pointed out that `the criminal and oligarchic system ruling over
Armenia is unable to make the steps, but is leading the country to an
economic collapse.'
From: A. Papazian
Sept 17 2010
Criminal and oligarchs in power in Armenia
September 17, 2010 | 20:07
Samvel Abrahamyan, Board Vice-Chairman, Armenian National Congress
(ANC), delivered a speech at the ANC-held rally in Yerevan.
`The criminal and oligarchic system ruling over Armenia goes on doing
its dirty deeds. Abnormal AMD revaluation caused the country's
monetary funds to be scattered on the one hand, and destroyed local
production on the other hand. Armenia officially registered the
sharpest economic decline,' he said. `To overcome the crisis, the
Government accumulated an additional external; debt totaling 1.5bn AMD
(U.S. $4.054m). Amid the global crisis, the rich people lost 50 to 70
per cent of their capital, whereas Armenian oligarchs have amassed
even more. More convincing evidence of the authorities' corruption can
hardly be found. Arbitrary increase in the prices for gas, electricity
and other products remains one of the main means of misappropriation,'
he said.
Abrahamyan enumerated the steps toward the way out of the crisis. He
pointed out that `the criminal and oligarchic system ruling over
Armenia is unable to make the steps, but is leading the country to an
economic collapse.'
From: A. Papazian