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Russian State Duma supports the idea of introduction common currency for Eurasian Union

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The Russian State Duma supports the idea of Prime Minister Dmitry Medvedev about the introduction of common currency in the Eurasian Economic Union that is to be created in 2015.

The Head of Government announced this idea at a business forum in St. Petersburg held on June 15 2012, reports.

“This is a logical proposal,” the Head of the Parliamentary Committee for the CIS Affairs Leonid Slutsky said.

He believes that the introduction of the common currency will make the Eurasian Union a real supra-national organization for ordinary people and not only an “initiative that exists in the papers”. He went on saying that they need a common currency, language, borders, common law and one parliament.

L.Slutsky added that it is necessary to take into account global experience, including the European Union.

He said, however, that the Eurasian Union will not copy the European Union, although the best elements can be borrowed. L.Slutsky believes that the question of a common currency should be solved after 2015, after the borders of the Eurasian Economic Union are outlined.

“Only then it will be clear whether it will be created a new supranational currency like the euro or whether it is appropriate to use the Russian rouble in a common economic area”, Leonod Slutski concluded.

The Eurasian Economic Union should be created by January 2015 between Russia, Belarus and Kazakhstan.

December 12 2014, 12:07

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