The Russian economy is too weak to withstand a single currency.
At the BRICS summit held in Kazan, Russia, Russian President Vladimir Putin could have proposed the participating countries to create a military alliance rather than introduce a single currency currencies.
This opinion was expressed by former State Duma deputy, Russian oppositionist Ilya Ponomarev in a commentary to the Kiev24 TV channel.
According to him, the Russian economy is too weak to withstand a single currency, the introduction of which was allegedly proposed at the BRICS summit to create an alternative to the international financial system and reduce dependence on the US dollar.
“If China and India started creating such a currency between themselves, it could work,” Ponomarev noted, adding that due to the major contradictions between these countries, this is impossible.
“Russia simply cannot offer anything, because the economic base is too small. Therefore, the idea of a single currency in BRICS will not work. I would rather believe that there could be some kind of military union, but a currency union – I think that is very unlikely,” the Russian oppositionist summed up.
Recall that the participants of the BRICS summit adopted a declaration demonstrating that Moscow failed to secure international support for the creation of an alternative security system that the Kremlin dreams of.
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