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Single EEU Currency To Help Avoid Additional Risks - Expert Says

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  • Single EEU Currency To Help Avoid Additional Risks - Expert Says

    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
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