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Is Capital Getting Ready For New Elections?

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  • Is Capital Getting Ready For New Elections?


    Naira Hayrumyan
    13:08 29/03/2013
    Story from News:

    The "great" redistribution of capital has started in Armenia. What
    should have started five years ago when Serzh Sargsyan came to power,
    is beginning now when Sargsyan took his last term in office.

    Over the last couple of days the press has reported several major
    deals, such as the sale of the controlling interest of the Armenian
    Business Bank to the head of the Control Service of the president
    Hovhannes Hovsepyan and Armavia's bankruptcy and sale of this company
    and Mika Cement to Gagik Tsarukyan. There have been reports also
    on the possible bankruptcy of Nairit and its sale. There are also
    rumors on the sale of the chain of supermarkets Yerevan City to the
    French Carrefour.

    This news proves that redistribution of capital has started in the
    country. Economist Ashot Yeghiazaryan says this is related to the
    change of government in Armenia. Though formally it happened five years
    ago, according to him, those who used to have economic levers five
    years ago are losing them, as well as their political levers only now.

    However, if the rumors that Gagik Tsarukyan may buy two big enterprises
    and Samvel Alexanyan may sell his supermarkets come true, then the
    redistribution of capital has a different concept. Either Gagik
    Tsarukyan is boosting his political leverages, hence the second
    president Robert Kocharyan wants to come back, or Serzh Sargsyan's
    oligarchs felt that they are losing the ground under their feet so
    they are trying to get rid of their assets in Armenia.

    Anyway, redistribution of property is in process, and since capital
    is the best indicator of political stability, apparently capital is
    getting ready for new elections, presidential or parliamentary.