Ruble asked not to repeat the Euro


www.vsyako.netPhoto: urban news Agency “Moscow”

Russia and Belarus with the deepening of economic integration should not move to a single currency for example the Euro zone, said on air of radio station “Echo of Moscow” Minister of economic development Maxim Oreshkin.

“I remember talk of a single Bank of a single currency in the first place, on a single ruble. And you do not say what, in fact, the options are to move to a single currency? Such an interesting question. We have seen in the European Union is passed…” — said Oreshkin.

According to him, the European experience of the transition to the single currency proved to be rather unsuccessful, due to the fact that the overall financial authorities are not able to fully influence the fiscal policies of all countries and is limited to the monetary regulation.

“From a macroeconomic point of view, when there is a single monetary currency, a single monetary policy, but no unified fiscal policy, for example, some countries, especially small can of regulation of the economic cycle to fall and fall very seriously. That is, when in the whole European Union, for example, requires policy tightening, respectively, individual countries may require mitigation. But since the ECB focuses on the economy as a whole, it starts to tighten, and these countries are caught in a very difficult situation. We saw in the crisis,” — said the Minister.

Prime examples of failed budget policies of the last years, he called Greece and Spain. The transition to a single Russian-Belarusian currency is possible, but not in the foreseeable future, concluded Oreshkin.

Previously to support the introduction of a single currency with Belarus was made by the speaker of the Federation Council Valentina Matvienko. According to her, cooperation between the two countries should constitute a “complete Union, in terms equally developing economies”.

In the first quarter, the national debt of France has become the largest in the Eurozone in absolute terms, reaching 2,358897 trillion euros and 360 million ahead of the indicators of Italy. While as a percentage of GDP, the Italian debt remains the biggest — 134% as against 100 in France.

Video, photo All from Russia.


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