Author Topic: Russia wants single currency for Eurasian Economic Union  (Read 3185 times)

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Offline Figleaf

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Re: Russia wants single currency for Eurasian Economic Union
« Reply #15 on: March 25, 2016, 11:12:06 PM »
As applied to Russia and its neighbours, yes. A monetary union is more complicated than a clearing mechanism, because members need to trust each other and be able to co-operate. Russia would find it difficult to do anything other than lording over its neighbours even in the best of times and I doubt that Russia, Belarus, Armenia, and especially Kazakhstan can whip up a sufficient amount of mutual trust.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline eurocoin

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Re: Russia wants single currency for Eurasian Economic Union
« Reply #16 on: August 01, 2019, 07:25:13 AM »
Belarus has once more agreed to the plan of a new common currency with Russia in the distant future. They do not want to first have to introduce the Russian ruble though. In 1999 Yeltsin and Lukashenko signed the Federal Convention based on which Belarus had to introduce the Russian ruble by 2005 and subsequently a new common currency would be introduced in 2008, but that (so far) never happened.