{"id":85784,"date":"2015-03-23T14:18:28","date_gmt":"2015-03-23T14:18:28","guid":{"rendered":"https:\/\/armbanks.am\/2015\/03\/23\/242556\/"},"modified":"2024-12-15T13:16:58","modified_gmt":"2024-12-15T13:16:58","slug":"eurasian-economic-union-not-ready-to-embrace-armenia-into-its-single-currency-union-expert-says","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/03\/23\/85784\/","title":{"rendered":"Eurasian economic union not ready to embrace Armenia into its single currency union- expert says"},"content":{"rendered":"

YEREVAN, March 23. \/ ARKA \/.<\/strong> A Russian economist Alexander Knobel told a video news conference today that Russia, Kazakhstan and Belarus, the three members of the Eurasian Economic Union (EEU) are not ready yet to embrace Armenia, the fourth member, in a single currency union they plan to create.<\/p>\n

Last Friday Putin said during a meeting with presidents of Belarus and Kazakhstan that time has come to start thinking about forming a currency union, but gave no details of the proposal suggesting it would be easier to meet economic challenges by working closely together.<\/p>\n

Earlier, on March 10, Putin ordered the Central Bank of Russia and the Russian government to work in conjunction with the national banks of the EEU member states to determine by September 1 \u201cthe further directions of integration in the currency and financial spheres\u201d. He also said that \u201cthe feasibility of establishing a monetary union within the framework of the EEU in the long term should be considered.\u201d<\/p>\n

The EEU was founded and launched by Russia, Belarus and Kazakhstan on January 1. Armenia joined the post-Soviet economic grouping on January 2. Kyrgyzstan is expected to join the bloc later this year<\/p>\n

“Armenia is a new member of the EEU. This is why Russia is discussing the issue only with Belarus and Kazakhstan, which have already established some cooperation with it,” said Knobel.<\/p>\n

According to Knobel, differences between EEU member states are still significant. This is why before moving ahead EEU should have a clear idea of the level of monetization of its member economies, otherwise problems may arise, which larger countries will have to resolve by using their resources.<\/p>\n

“Some processes within the EEU declaratively are ahead of its essence; the stronger political processes within it become, the more resources one of its members, presumably Russia, will have to spend,\u2019 said Knobel.<\/p>\n

He said the integration within EEU is being hindered today only by the political will of the bloc\u2019s leaders, which is a problem that must be solved by directing cooperation towards a more practical and economic mainstream. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

A Russian economist Alexander Knobel told a video news conference today that Russia, Kazakhstan and Belarus, the three members of the Eurasian Economic Union (EEU) are not ready yet to embrace Armenia, the fourth member, in a single currency union they plan to create<\/p>\n","protected":false},"author":1,"featured_media":156964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[15837,13892],"class_list":{"0":"post-85784","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange-market","8":"category-news","9":"tag-armenia-2","10":"tag-economic-union"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/85784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=85784"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/85784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/156964"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=85784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=85784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=85784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}