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SINGLE EEU CURRENCY MAY BE INTRODUCED IN CASE OF STRONGER ECONOMIC UNITY - EXPERT
YEREVAN, March 12. /ARKA/. A single EEU currency may be introduced
only if unity of the economies strengthens, economist Vilen Khachatryan
said in a live broadcast on Sputnik-Armenia.
Earlier reports said the president of Russia Vladimir Putin instructed
the Russian central bank and the government to decide on the expediency
of an EEU currency union by early September.
According to Khachtryan, time is needed to reach a point where a
common currency can be created.
Other countries' experience shows that some states, for instance
some of EU countries, face certain problems after having adopted the
single currency.
If trade ties between Russia, Armenia, Belarus and Kazakhstan expand,
the countries will need a common currency, the expert said. But before
that financial and banking systems should have adopted similar methods
and principles, to prevent complications, he said.
Apart from this, legal steps need to be taken, particularly in Armenia,
to ensure agreement between the parliament and financial decision
making institutions, Khachatryan said.
According to the expert, the single currency may be introduced
after 2020.
The Eurasian Economic Union (EEU) is the successor of the Customs
Union as from January 1, 2015, and includes Russia, Belarus, Kazakhstan
and Armenia. Talks are under way on Kyrgyzstan's joining the EEU. -0--
http://arka.am/en/news/economy/single_eeu_currency_may_be_introduced_in_case_of_s tronger_economic_unity_expert/#sthash.xrIhFJub.dpuf
From: A. Papazian
YEREVAN, March 12. /ARKA/. A single EEU currency may be introduced
only if unity of the economies strengthens, economist Vilen Khachatryan
said in a live broadcast on Sputnik-Armenia.
Earlier reports said the president of Russia Vladimir Putin instructed
the Russian central bank and the government to decide on the expediency
of an EEU currency union by early September.
According to Khachtryan, time is needed to reach a point where a
common currency can be created.
Other countries' experience shows that some states, for instance
some of EU countries, face certain problems after having adopted the
single currency.
If trade ties between Russia, Armenia, Belarus and Kazakhstan expand,
the countries will need a common currency, the expert said. But before
that financial and banking systems should have adopted similar methods
and principles, to prevent complications, he said.
Apart from this, legal steps need to be taken, particularly in Armenia,
to ensure agreement between the parliament and financial decision
making institutions, Khachatryan said.
According to the expert, the single currency may be introduced
after 2020.
The Eurasian Economic Union (EEU) is the successor of the Customs
Union as from January 1, 2015, and includes Russia, Belarus, Kazakhstan
and Armenia. Talks are under way on Kyrgyzstan's joining the EEU. -0--
http://arka.am/en/news/economy/single_eeu_currency_may_be_introduced_in_case_of_s tronger_economic_unity_expert/#sthash.xrIhFJub.dpuf
From: A. Papazian