EEC boss Tigran Sargsyan comments on concept of single financial market

The central banks of EEU countries are intensely working on the concept of a common financial market, Eurasian Economic Commission chairman of the board Tigran Sargsyan said.

Under the Eurasian Economic Union agreement, the parties are bound to form a single financial market in the banking and insurance sectors, and bond market by 2025.

One of the key documents is the concept of forming a single financial market.

In December 2016 leaders of the five member states of the union tasked their governments and the central banks to design the concept jointly with the Eurasian Economic Commission.

“The main thing for us today is to have the single financial market concept. Now the central banks are actively working on this documents, and we hope that the concept will be presented at the Supreme Council session”, Sargsyan said in an interview to Belarus 1 TV.

He said the document will also help in understanding if the five central banks see the opportunity of forming a single cryptocurrency, and if yes, then what function it will implement. Sargsyan said the EEC doesn’t have the issue of creating a cryptocurrency on its agenda, although it is being discussed on the level of experts.