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Putin gave no details of the proposal but suggested it would be easier to meet economic challenges by working closely together. Mr Lukashenko and Mr Nazarbayev did not immediately respond to the proposal in public, but analysts say it is unlikely to get off the ground.
“I would suggest moving step by step, exactly as all EU member states enter the eurozone, gradually creating all these common financial institutions,” Likhachev said, adding that if such an order comes from the member leaders, all the sides will immediately start negotiations.“That means any slightest fluctuation in national currencies of today’s four and of tomorrow’s five [Kyrgyzstan is about to join the EEU – Ed.] EEU countries, that are related neither to trade nor to demand, create a huge trade imbalance,” he said, adding that officials are looking for ways to smooth these problems out, and trade and industry institutions are in a constant dialogue.“In the same enclosed space, where goods, services, capital and labor are constantly moving, the existence of different currencies exacerbates the risks,” Likhachev said. Apart from the economy, there are also political and social issues that are yet to be discussed, he added.