“The crisis resemble a change of seasons”, Chairman of the Board of Directors of Troika Dialog Ruben Vardanyan told journalists in Yerevan. According to him, some processes taking place in the world, inevitably repeat themselves and “the second, third and fourth wave of the crisis” are possible.
“Moving from a planned socialist economy to a capitalist system, we should be ready for the crises that periodically come, and it does not mean the end of the world, it does not mean that we should make stupid decisions and lose money, but we must be prepared to the new phase with fall in oil prices and problems in banks, ” he said.
Ruben Vardanyan mentioned that in such cases preventive measures are important: monitoring of the situation, severe restrictions of high-risk operations that could multiply the crisis, and some people’s actions that exacerbate the effect of crisis several times .
According to Ruben Vardanyan, consolidation of the banking industry is important in such conditions. “We need to strengthen the system, in particular, to increase bank’s capital, to enlarge the banks themselves, which will help handling of the situation as a whole,” Chairman of the Board of Directors of Troika Dialog said.
