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WILL OLIGARCHS' RESISTANCE BE OVERCOME?
Naira Hayrumyan
Story from Lragir.am News:
http://www.lragir.am/engsrc/comments26285.html
Published: 14:18:07 - 22/05/2012
Prime Minister Tigran Sargsyan mentioned in his article in the
Russia-based Vedomosti that Armenia must carry out reforms on the
path for the European integration of Armenia. Apparently, whatever
is in place is not enough for European integration.
The EU thinks that corruption remains a major issue for Armenia. The
European Commission~Rs country progress report states so.
On the whole, the European institutions report progress though both
international financial institutions and European institutions note
that Armenia needs not only legislative amendments but also a will
to combat corruption.
The first relevant undertaking is in place. The Pan-Armenian Bank, the
godson of Tigran Sargsyan, has already launched the loan program. The
Bank announced that it will not fund the individuals and companies
which are controlled by government officials and persons related
to them.
Apparently, those who are used to receiving privileged loans and not
repaying them are dissatisfied. The bank had to communicate a letter
and announce that it may be manipulated and misinterpreted, especially
by companies which do not match the requirements of the bank.
The history of the Pan-Armenian Bank symbolizes the struggle in
the Armenian government. The technocratic wing of the government is
trying to ensure at least the appearance of compliance with European
standards and combat against corruption. The other wings of the
government still resist successfully.
What will the new government do? Will it be strong enough to overcome
the resistance of the oligarchs? Or are diversity parades enough
for compliance?
Naira Hayrumyan
Story from Lragir.am News:
http://www.lragir.am/engsrc/comments26285.html
Published: 14:18:07 - 22/05/2012
Prime Minister Tigran Sargsyan mentioned in his article in the
Russia-based Vedomosti that Armenia must carry out reforms on the
path for the European integration of Armenia. Apparently, whatever
is in place is not enough for European integration.
The EU thinks that corruption remains a major issue for Armenia. The
European Commission~Rs country progress report states so.
On the whole, the European institutions report progress though both
international financial institutions and European institutions note
that Armenia needs not only legislative amendments but also a will
to combat corruption.
The first relevant undertaking is in place. The Pan-Armenian Bank, the
godson of Tigran Sargsyan, has already launched the loan program. The
Bank announced that it will not fund the individuals and companies
which are controlled by government officials and persons related
to them.
Apparently, those who are used to receiving privileged loans and not
repaying them are dissatisfied. The bank had to communicate a letter
and announce that it may be manipulated and misinterpreted, especially
by companies which do not match the requirements of the bank.
The history of the Pan-Armenian Bank symbolizes the struggle in
the Armenian government. The technocratic wing of the government is
trying to ensure at least the appearance of compliance with European
standards and combat against corruption. The other wings of the
government still resist successfully.
What will the new government do? Will it be strong enough to overcome
the resistance of the oligarchs? Or are diversity parades enough
for compliance?