New currency in new EEU

Discussing with friends, weeks ago, during the publication of the agreement between Kazakhstan, Russia and Belorussia, we predicted that in the short term a union of countries similar to Europe early, could not proceed in foreign trade except by creating a single currency, with the which interchange all, in the same way of America, China and Europe. Well, the news of the decision that are considering what to do to create the single currency has arrived. Now the world will have to deal with four major currencies: the dollar, the yen, the euro and the new currency that will be decided as soon as approved the bill.
 
 Discutendo con amici, settimane fa, durante la pubblicazione del concordato tra Kazakhstan, Russia e Belorussia, avevamo pronosticato che a breve termine una unione di Paesi simile alla Europa iniziale, non avrebbe potuto procedere nel commercio estero se non creando una divisa unica, con la quale interscambiare tutto, allo stesso modo di America, China ed Europa. Ebbene la notizia della decisione che stanno valutando il da farsi per creare la moneta unica è arrivata. Ora il pianeta avrà a che fare con quattro monete importanti: il dollaro, lo yen, l'euro e la nuova moneta che sarà decisa non appena approvato il disegno di legge.

 Rotterdam, 29/07/2017-INC News

Introducing single currency of Eurasian Economic Union is inevitable: First Vice PM of Russia

July 29, 14:13 First Vice Prime Minister of Russia Igor Shuvalov
Phasing in a single currency of the Eurasian Economic Union is inevitable, although the process could take five to ten years. First vice PM Igor Shuvalov said this last Friday at a meeting with participants of the international educational forum “Summer Campus of the Presidential Academy”, which the Republic of Tatarstan hosts.

“Five or ten years will pass and the issue of the single currency will definitely be solved, with issuing centers and the unified currency. We might have avoided this unless the ruble had not been crashed when the Soviet Union collapsed. We destroyed the single economic space and right now, being different countries, we’re creating this space,“ Shuvalov said. “The single currency will be discussed in professional circles,” he pointed out.

Besides, according to him, Russia should remain a member of the World Trade Organization.

“We should retain our WTO Membership even if the role of the WTO decreases, and regional economic unions strengthen. The WTO helps Russia anyway. We need to learn how to use all available tools because old-time WTO member states know how to apply special protective measures, conduct anti-dumping investigations, which is a sealed book for Russia, but this is something that we’ll learn for sure," the first vice PM stressed.