Myasnikovich: Single currency may threaten sovereignty
Former Prime Minister believes that this measure could mean the complete subordination of the EAEC to States with large economies.
On April 23, Former Prime Minister of Belarus, and now head of the Council of the Republic, Mikhail Myasnikovich, spoke at an international conference in Minsk.
According to tut.by, Myasnikovich analyzed the situation in the Eurasian Economic Union (EAEC), which came into force on 1 January 2015. Now it includes Russia, Belarus, Kazakhstan and Armenia and accession of Kyrgyzstan is expected in May.
Myasnikovich believes that in the EAEC "a lot is said, but little is done." According to him, there is a "shortage of ideas, approaches, how to ensure a successful, conflict-free implementation of the EAEC agreement."
Former Prime Minister said that at the time of signing the agreement, there existed 422 barriers in goods trade. "Seventy one barrier is removed through signing of the agreement. The rest we will have to eliminate," he said.
Myasnikovich also spoke about the idea of introducing a single currency in the EAEC. According to him, it is still early to talk about it, as there are differences in the systems of management in the Union countries. "In practice, this could mean the complete subordination to the EAEC states with large economies. In fact, it can lead to the loss of sovereignty," said the Former Prime Minister.
Recently Russia advocated the proposal to introduce common currency in the Eurasian Economic Union. Recently Vladimir Putin instructed the Central Bank and the Russian government to consider creating a monetary union in the Eurasian Economic Union.
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