Tweet
Common currency inevitable if EEU gains foothold - economist
12:23 * 22.03.15
In an interview with Tert.am economist Artak Manukyan commented on
Russian President Vladimir Putin's statement on a
Russia-Belarus-Kazakhstan monetary union.
According to him, if the Eurasian Economic Union (EEU) gains a
foothold, switching over to a common currency will be inevitable.
"It is impossible that the EEU member-states have different
currencies. So a common currency is the next step," he said.
The Russian currency is relatively stable now.
As regards Armenia, Mr Zakaryan noted that, regrettably, Armenia is
not a key actor in the process.
"That is, Armenia and Kyrgyzstan have to obey decisions by Belarus,
Kazakhstan and Russia," he said.
A transition to a common currency is realistic unless the EEU
disintegrates by 2020.
Although Armenia's economy is dollarized, Mr Zakaryan does not see any
serious problems. One of the negative impacts of a common currency may
be affecting Armenia's sovereignty.
"It should be noted, however, that a common currency implies an
efficient banking policy - if any of the member-states faced problems,
it means that the entire EEU will face the same problem," he said.
http://www.tert.am/en/news/2015/03/22/artak-manukyan/1624639
12:23 * 22.03.15
In an interview with Tert.am economist Artak Manukyan commented on
Russian President Vladimir Putin's statement on a
Russia-Belarus-Kazakhstan monetary union.
According to him, if the Eurasian Economic Union (EEU) gains a
foothold, switching over to a common currency will be inevitable.
"It is impossible that the EEU member-states have different
currencies. So a common currency is the next step," he said.
The Russian currency is relatively stable now.
As regards Armenia, Mr Zakaryan noted that, regrettably, Armenia is
not a key actor in the process.
"That is, Armenia and Kyrgyzstan have to obey decisions by Belarus,
Kazakhstan and Russia," he said.
A transition to a common currency is realistic unless the EEU
disintegrates by 2020.
Although Armenia's economy is dollarized, Mr Zakaryan does not see any
serious problems. One of the negative impacts of a common currency may
be affecting Armenia's sovereignty.
"It should be noted, however, that a common currency implies an
efficient banking policy - if any of the member-states faced problems,
it means that the entire EEU will face the same problem," he said.
http://www.tert.am/en/news/2015/03/22/artak-manukyan/1624639