EEU may introduce single currency after 2025, Russian minister says
02.08.2017,
16:30
A single currency for the Eurasian Economic Union (EEU), which comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, may be introduced after 2025, Russian Economic Development Minister Maxim Oreshkin said in an interview with Rossiya 24 TV channel, rns.online reported.
YEREVAN, August 2. /ARKA/. A single currency for the Eurasian Economic Union (EEU), which comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, may be introduced after 2025, Russian Economic Development Minister Maxim Oreshkin said in an interview with Rossiya 24 TV channel, rns.online reported.
He said before switching to a single currency, EEU member states should harmonize their regulations concerning production of goods, services, financial services, the banking system and only then create a single currency, which may occur after 2025.
He stressed that at this stage there is no talk at all about introducing a single currency for the bloc. In his words, the experience of European countries has shown that the introduction of a single currency without the creation of a single market and regulation leads to economic imbalances and a crisis. -0-
He said before switching to a single currency, EEU member states should harmonize their regulations concerning production of goods, services, financial services, the banking system and only then create a single currency, which may occur after 2025.
He stressed that at this stage there is no talk at all about introducing a single currency for the bloc. In his words, the experience of European countries has shown that the introduction of a single currency without the creation of a single market and regulation leads to economic imbalances and a crisis. -0-
