Good update so far. I wonder what are your sources for the 1992 reduction of funds in transportation and health versus education. Anything would be very welcome please as I'm keen to learn more about this.
What are the borders of Nagorno Karabagh TTL? The same one as OTL but with the whole of Shahumyan province including areas like the Lachin corridor, Kalbajar etc?
If so the Armenians are in a much stronger position than OTL.
The lack of euro will have mixed effects on Europe overall. On one hand, competition between European currencies will be a good thing and it will prevent the debt crises that Southern European countries suffered OTL. There may also be more investment in industrial sectors as opposed to constructions as seen OTL. On the other hand, currency devaluations can be used to avoid deep rooted social and structural reforms TTL. This would weaken Southern Europe compared to OTL over the course of decades. Germany will be fine but may find it somewhat more challenging to export in southern Europe TTL as their products may not be as competitive.
A single currency isn't needed to have a single economic market. It is of course helpful and reduces transaction costs. But transaction costs will inevitably go down with digitisation and eventually fintech.
An interesting side effect of this timeline is that the United Kingdom may become a far stronger proponent of European integration than TTL. It has essentially won and its vision of a European Economic union triumphed over the vision of political union.
I wouldn't be surprised if allowing clearing of European currencies in London becomes a potential battlefield between the UK and its European partners.