24.03.2015 - Does Putin’s Proposed Eurasian Currency Union Make Sense?
At a meeting in Kazakhstan last week, Russian President Vladimir Putin proposed a currency union for the members of the Eurasian Economic Union (EAEU). Russia, Kazakhstan, Belarus, and Armenia are the current members, and Kyrgyzstan is scheduled to join later this spring. Does a common currency for the EAEU make sense? Not in economic terms, but perhaps there is a political subtext that makes the proposal more understandable. A currency union is simply a group of countries that share a common currency. The Eurozone (EZ) is the best-known example. The much smaller Common Monetary Area, based on the South African Rand, is another. The 50 states of the United States are sometimes viewed as a currency union for economic purposes, even though the members are not sovereign countries...............................................Full Article: Source
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