The EAEU member States want to introduce a single electronic currency

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The countries of the Eurasian economic Union (EEU) will introduce a single currency for cross border payments. New currency planned to be used only in the operations of offsets in interstate Commerce. The new money will be exclusively electronic. Introduction of such currency necessary to facilitate mutual settlements under the threat of sanctions. Rate the new currency will depend on the exchange rate of the national currency units of the countries of the member States relative to each other. The new currency will remind the European of the ECU prior to the emergence of the Euro. The introduction of electronic currency will help the participants of the EAEC go to the gradual abandonment of the dollar.
This initiative is definitely welcome, we have already noted that Minsk and Astana are against the strengthening of the role of the Russian ruble. The modern Russian ruble is too volatile and weak currency. In this form it is beneficial to exporters and the Russian budget, but is unlikely to make the ruble a handy tool for international trade and investment. In January, the Central Bank of the Russian Federation must return to currency market intervention in favor of the US dollar.
If a native currency does not trust the Russian Ministry of Finance, as the ruble can trust Russia’s partners in the Eurasian Union?
The right choice – not to impose partners on Eurasian integration of the Russian ruble and go to supra-national monetary unit, using the experience of the European Union. Non-cash Euro appeared on 1 January 1999, cash 1 January 2002. And we can only welcome the most important step in this direction. Recall, a single Eurasian Central Bank is scheduled in Almaty, and the main capital market will probably become the Moscow exchange. Pull with this question. It is not less politics than Economics. And worth it to complete until Minsk and Astana loyal to the Eurasian integration Moscow.
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Alexander Razuvayev,
The Director of analytical Department,
Alpari