Regnum Information Agency : "A single EEU currency should crown the coordinated foreign exchange policies"

Eurasian Development Bank believes that the introduction of a single currency should result from a rather long process of financial and currency integration rather than begin it. The introduction of a single currency in the Eurasian Economic Union (EEU) should be preceded by coordination of the financial and foreign exchange policies. Our reporter stated on 29 October that Dmitry Pankin, Chairman of the Management Board at Eurasian Development Bank (EDB), said this at the 10th International Conference on Eurasian Economic Integration in Moscow. Certain elements of coordination of foreign exchange policies do exist already, but this process is not a one-time development. "A single currency is what should crown the process, not to begin with," Dmitry Pankin said. He reminded that it had taken twenty years for the European Union to adopt a single currency. According to Dmitry Pankin, introducing a single currency by the EEU countries without coordinating their financial and foreign exchange policies would be a "serious mistake."