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Eurasian Economic Union can set up currency union earlier than planned — Belarus lawmaker

March 13, 2015, 19:07 UTC+3 MINSK
Belarus stands for launching currency union in the next three to four years, looking at issues of a common payment system and increasing the share of national currencies in mutual settlements
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© ITAR-TASS/Alexandra Mudrats

MINSK, March 13. /TASS/. Member countries of the Eurasian Economic Union (EAEU) are able to set up a currency union earlier than planned, speaker of the Council of the Republic, or upper house of the Belarusian parliament, Mikhail Myasnikovich said on Friday.

"We should speed up integration so that the first stages of a currency union might be launched in the next three to four years," he said.

"A currency union is one of the most advanced stages of integration," Myasnikovich noted. "We think that the term set in the treaty on the establishment of the Eurasian Economic Union - the year 2024 - is somewhat late. In conditions when financial markets are not stable enough, we obviously must do our best to bring this term closer and look at issues of a common payment system and increasing the share of national currencies in mutual settlements."

Infographics The Eurasian Economic Union starts its work The Eurasian Economic Union starts its work
The Treaty on the establishment of the Eurasian Economic Union comes into effect on January 1. Infographics by TASS

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