Friday, November 11 2011 19:36
Armenian economists urge people not to evade euros
ArmInfo. At the moment euro is a more stable currency than dollar, because the EU is a stronger economic structure than the U.S., Grigor Hayrapetyan, Candidate of Science, Economics, said at today's press conference. He calls on people not to evade euros and to diversify the savings and investments.
In order to finance the foreign debt, the U.S. issues dollars. Unlike the U.S., the European Central Bank strictly controls the emission of euros. "I do not think that the problems in Greece may lead to a global financial and economic crisis in the Eurozone, as the assistance provided to Greece for the foreign dent coverage is not a big burden for the European Union", he said.
For her part, Hasmik Hovhannisyan, Candidate of Science, Economics, said: "The economy of Greece is focused on two spheres: cargo transportation by sea and tourism. During the crisis, the given spheres find themselves in stagnation. This should be a lesson for Armenia, because the economy should develop in several dimensions. In that case the global economic fluctuations will have a minimal impact on the country's economy in general".
According to her, any economic or political problem of the EU has a negative impact on Armenia no matter what steps the Government takes. On the other hand, the non-confidence in euro doubles this impact. "Our refusal from euros leads to its market excessiveness and reduction of the exchange rate. This is a double blow on Armenia's economy. Therefore, I recommend displaying a soberer attitude to the reduction of the EUR exchange rate, yielding to no panic and keeping the savings both in USD and EUR", she stressed.
