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EEU to set up single market before single currency — official

June 03, 2014, 14:40 UTC+3 MOSCOW
Minister of Integration and Macroeconomics of the Eurasian Economic Commission says it is necessary to reach a certain stage of economic integration to establish the single currency
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EEC Minister of Integration and Macroeconomics Tatyana Valovaya

EEC Minister of Integration and Macroeconomics Tatyana Valovaya

© ITAR-TASS/VAlery Sharifulin

MOSCOW, June 03. /ITAR-TASS/. The Eurasian Economic Commission (EEC), which comprises Russia, Kazakhstan, and Belarus, sees no point in launching a single currency before the establishment of a common financial market and a single financial regulator, Tatyana Valovaya, EEC Minister of Integration and Macroeconomics, said Tuesday at a news conference.

“Until we establish a single financial market, there is no point in raising the issue of a single currency. But we need to develop cooperation in the currency sphere, to carry out a coordinated macroeconomic policy,” Valovaya said.

“It is necessary to reach a certain stage of economic integration (to establish the single currency). The EEU needs to work more before the necessity in a single currency appears," she said.

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