The Chairman of National Assembly Finance and Budget Affairs Committee Gagik Minasyan, during the roundtable discussion on “Eurasian Economic Prospects” held at the National Assembly, said the introduction of the single EaEU currency will contribute to facilitation of mobility of services, goods and capital between its member countries. Aravot.am talked on this to economist Vilen Khachatryan. He said that the capital mobility within the EU is happening very easily because when dealing with a single currency, this problem is solved. “The problems related to transition from one exchange rate to another and causing fluctuations, thus, disappear. But there is a problem here. If a country has high prices, these high prices are transferred to other countries. And as for the capital and the entire transaction system, unified system functions in a unified way and everything is done for it.”
The economist believes that problems may arise in the process of strengthening the EaEU countries’ central banks partnership as the central banks of different countries are managed by different systems. He noted that there was also a single currency during the Soviet Union, but Armenia was able to attract more money. “Under the EaEU market conditions, this might be more difficult, nevertheless, the Central Bank will lose its functions, in this respect, it is negative. I am raising the issue of financial sovereignty because, in the case of single currency, the Central Bank cannot conduct an independent financial policy in the monetary industry.”
Ami CHICHAKYAN
