Altyn Instead of Pennies from Heaven

13.05.2014
In the 4th issue of our "Banknotes of the World" newsletter we wrote that Russia, Belarus, and Kazakhstan were not going to adapt a new currency within the Customs Union (CU). However, it has lately become known that a new single currency - the altyn - will be created for CU member states. Its introduction was planned by 2025, but the situation changed the international economic sanctions against Russia by Europe and the USA. In this regard, experts say the altyn will be in CU circulation in 3-5 years.
At due course, Kazakh President Nursultan Nazarbaev proposed a need for a single currency for the CU territory, and in 2012 Vladimir Putin praised the proposal.
Moreover, this May the 3 presidents will sign an agreement for establishing EAEU, the Eurasian Economic Union, since 2015. The EAEU is supposed to become a kind of response to the EU. Later on, the new integration area may host Kyrgyzstan, Armenia, and Tajikistan.
It is reported that along with the new currency issue there will be a supernational mega regulator - a Eurasian Central Bank to be governed by the EAEU presidents' or prime ministers' council.

Source: Life News portal