While Europe is suffering for over 5 years the crisis of having the Euro as the national currency for all countries in the EuroZone, Russia is taking the risk to create a single currency for the former Soviet Republics.
Is it a good idea by looking at the consequences and the effects it had on Europe? The whole point of the EuroZone was to increase the GDP, the migration of jobs in all countries included in the Union for better standards of living and economic growth. But, when you look at a picture you don’t necessarily see what the painter meant. You see blue sky and ocean, but you don’t see how deep the ocean is and how many sharks swim in it, nor you see the rain that is going to pour down from the sky. Now, not one but couple of the countries in the union such as Greece, Spain, and Germany are planning on leaving the EuroZone and going back to their currency. So why does Russia wants to make the same mistake?
“Russia believes one currency could give the region a stronger tool to compete with the dollar and the euro. This will be a natural step to take, since the three countries don’t need visas and share the same language – capital movement would remain the only factor in the way of economic integration,” Alexei Moisseyev