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news.am, Armenia
Sept 17 2011
When Europe sneezes, Armenia catches flu - ARF MP
September 17, 2011 | 12:31
YEREVAN. - The new wave of recession in international market will
directly impact Armenia's economy, which continues to be based on
remittances and the mining industry, ARF Dashnaktsutyun Party MP
Artsvik Minasyan said during a press conference on Saturday. And in
his words, `as a consequence of the government's inept policy, our
economy will not be ready for that.'
According to Minasyan, the latest adverse developments in
international market are conditioned on the `change in one-center
monetary policy.' That is to say, the US dollar and the American
economic policy are yielding to European and even African and Asian
economic policies. As a result, the dollar is weakening, but the
American government is attempting to strengthen the dollar, in order
not to lose its dominance.
As per Artsvik Minasyan, this problem becomes more complicated when
most countries are unable to substantially reduce social spending.
From: Baghdasarian
Sept 17 2011
When Europe sneezes, Armenia catches flu - ARF MP
September 17, 2011 | 12:31
YEREVAN. - The new wave of recession in international market will
directly impact Armenia's economy, which continues to be based on
remittances and the mining industry, ARF Dashnaktsutyun Party MP
Artsvik Minasyan said during a press conference on Saturday. And in
his words, `as a consequence of the government's inept policy, our
economy will not be ready for that.'
According to Minasyan, the latest adverse developments in
international market are conditioned on the `change in one-center
monetary policy.' That is to say, the US dollar and the American
economic policy are yielding to European and even African and Asian
economic policies. As a result, the dollar is weakening, but the
American government is attempting to strengthen the dollar, in order
not to lose its dominance.
As per Artsvik Minasyan, this problem becomes more complicated when
most countries are unable to substantially reduce social spending.
From: Baghdasarian