“Those people, who criticize... supporters of the Customs Union, offer themselves to join the European Union, where restrictions of sovereignty are more significant,” the Prime Minister of Ukraine Nikolai Azarov wrote on Facebook.
He noted that when accessing the EU, Ukraine will have to give up its own currency, to transfer the right to print money to some other body, not to its National Bank, “i.e., wittingly giving up its own monetary policy.” “And this means that, as a matter of fact, it refuses to carry out its own economic policy. Trade policy, and much more are here too,” said Azarov.
According to him, the countries giving up their own currency, when in economic crisis can not use for recovery very powerful levers of monetary policy. “Now, for example, the EU countries seized control of the budget policy. And this means that the country has refused to carry out its own social policy, i.e. transferred to another agency the policy in the field of wages, labor market, etc.,” Azarov writes.
Among benefits of entry into the EU, he called the possibility in crisis situations to count on the support of more powerful economic partners. “Exactly the same situation is with the Customs Union, with the only difference that principles of consensus in decision-making work there. And the country can block the adoption of any unfavorable decisions for itself,” Azarov listed the pros of integration into the Customs Union.
Recall, on May 31, at a meeting of the Council of CIS Heads of Government in Minsk, a Memorandum was signed on deepening cooperation between the Eurasian Economic Commission and Ukraine. The document provides for granting Ukraine the opportunity to have a representative in the ECE and obtain observer status in the Eurasian Economic Union since 2015.