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SINGLE EEU CURRENCY TO HELP AVOID ADDITIONAL RISKS - EXPERT SAYS
YEREVAN, April 1. /ARKA/. A single Eurasian Economic Union (EEU)
currency will help avoid additional risks, head of economy department
of CIS Countries Institute Aza Mihranyan said on Sputnik-Armenia
radio station, as cited by Novosti-Armenia.
At a meeting with the presidents of Belarus and Kazakhstan Aleksander
Lukashenko and Nursultan Nazarbaev in Astana on March 20, Russia's
Putin said it was time for Russia, Belarus and Kazakhstan to start
talks on a monetary union. According to Russia's first deputy minister
of economic development Aleksey Likhachev, the monetary union can
be created stage by stage, and not all member states need to join it
from the beginning.
Mihranyan said the monetary union will introduce common currency
movement rules, which, in turn, will speed up the trade turnover. The
ideal option is to have the same rule throughout the EEU, she said.
Putin instructed to seek a direct exchange mechanism to avoid currency
risks tied to exchanging through dollars, she said. This will make the
country's goods cheaper and more competitive in a neighbor's market,
she added.
The expert stressed the united economic potential is reflected in
the single currency; the better is the potential, the stronger is
the currency.
One country's advantages can compensate for the shortcomings of
the other, which will make the single currency more interesting for
third countries.
But for this, the economies should strengthen, and there should be
harmonized regulations; any decision will be impossible, if one of
the countries oppose it, she said. -0--
http://arka.am/en/news/economy/single_eeu_currency_to_help_avoid_additional_risks _expert_says/#sthash.acEkucaI.dpuf
From: Baghdasarian
YEREVAN, April 1. /ARKA/. A single Eurasian Economic Union (EEU)
currency will help avoid additional risks, head of economy department
of CIS Countries Institute Aza Mihranyan said on Sputnik-Armenia
radio station, as cited by Novosti-Armenia.
At a meeting with the presidents of Belarus and Kazakhstan Aleksander
Lukashenko and Nursultan Nazarbaev in Astana on March 20, Russia's
Putin said it was time for Russia, Belarus and Kazakhstan to start
talks on a monetary union. According to Russia's first deputy minister
of economic development Aleksey Likhachev, the monetary union can
be created stage by stage, and not all member states need to join it
from the beginning.
Mihranyan said the monetary union will introduce common currency
movement rules, which, in turn, will speed up the trade turnover. The
ideal option is to have the same rule throughout the EEU, she said.
Putin instructed to seek a direct exchange mechanism to avoid currency
risks tied to exchanging through dollars, she said. This will make the
country's goods cheaper and more competitive in a neighbor's market,
she added.
The expert stressed the united economic potential is reflected in
the single currency; the better is the potential, the stronger is
the currency.
One country's advantages can compensate for the shortcomings of
the other, which will make the single currency more interesting for
third countries.
But for this, the economies should strengthen, and there should be
harmonized regulations; any decision will be impossible, if one of
the countries oppose it, she said. -0--
http://arka.am/en/news/economy/single_eeu_currency_to_help_avoid_additional_risks _expert_says/#sthash.acEkucaI.dpuf
From: Baghdasarian