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Vilen Khachatryan. "In the case of single currency, the Central Bank

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  • Vilen Khachatryan. "In the case of single currency, the Central Bank

    Vilen Khachatryan. "In the case of single currency, the Central Bank
    will lose its functions."

    April 4 2015


    The Chairman of National Assembly Finance and Budget Affairs Committee
    Gagik Minasyan, during the roundtable discussion on "Eurasian Economic
    Prospects" held at the National Assembly, said the introduction of the
    single EaEU currency will contribute to facilitation of mobility of
    services, goods and capital between its member countries. Aravot.am
    talked on this to economist Vilen Khachatryan. He said that the
    capital mobility within the EU is happening very easily because when
    dealing with a single currency, this problem is solved. "The problems
    related to transition from one exchange rate to another and causing
    fluctuations, thus, disappear. But there is a problem here. If a
    country has high prices, these high prices are transferred to other
    countries. And as for the capital and the entire transaction system,
    unified system functions in a unified way and everything is done for
    it."

    The economist believes that problems may arise in the process of
    strengthening the EaEU countries' central banks partnership as the
    central banks of different countries are managed by different systems.
    He noted that there was also a single currency during the Soviet
    Union, but Armenia was able to attract more money. "Under the EaEU
    market conditions, this might be more difficult, nevertheless, the
    Central Bank will lose its functions, in this respect, it is negative.
    I am raising the issue of financial sovereignty because, in the case
    of single currency, the Central Bank cannot conduct an independent
    financial policy in the monetary industry." Ami CHICHAKYAN


    http://en.aravot.am/2015/04/04/169596/




    From: A. Papazian
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