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Iran Replaces Dollar With Euro


godless

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HOLA441
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You are with the thugs or you are on your own except the kids are fighting back and i don't think the masses will swallow another war even with another 9/11 style falsed flag attack all being blamed on Iran.

Nonsense. Grow up you left wing twit and stop believing everything Socialist Worker tells you :angry:

Now i hate left-wing parasites as much as the next man but why are you saying what he say is left wing?

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UPDATE: Now mainstream

September 21, 2009

Euro to replace dollar in Iran’s Forex Reserve Fund

Tehran Times Economic Desk

TEHRAN – Iranian President Mahmoud Ahmadinejad ordered the use of the euro instead of the dollar as the basic foreign currency in the Forex Reserve Fund calculations.

The Mehr News Agency reported that this order was issued in line with a decision made in this regard by the board of trustees of the Forex Reserve Fund.

Prior to this, the Islamic Republic of Iran had announced that it had stopped selling oil in dollars and started using euro in its oil transactions

http://www.tehrantimes.com/index_View.asp?code=203592

Iran shifts to euro from dlr in calculating fund value

Mon Sep 21, 2009 7:57am EDT

TEHRAN, Sept 21 (Reuters) - Iran has replaced the U.S. dollar with the euro in calculating the value of its Oil Stabilisation Fund (OSF), Iranian media reported on Monday.

The decision was made earlier this month by President Mahmoud Ahmadinejad, based on a recommendation by the board of directors of the fund, the Poul business daily reported, without citing any official sources.

State radio said the move was taken because the government wished to protect itself from the fragility of the U.S. economy and the weak dollar. The Central Bank of Iran, contacted by telephone, declined to comment.

The OSF, which forms part of Iran's foreign exchange reserves, is a contingency fund set aside by the government to cushion the economy against fluctuating international oil prices and help both the public and private sectors with their hard currency needs by extending loans.

The sizes of the OSF and the overall foreign exchange reserves are not regularly revealed to the public. Ahmadinejad said last December that the OSF was worth the equivalent of over $23 billion, and state television reported at the time that the reserves exceeded $80 billion.

The decision on calculating the OSF is the latest in a series of efforts by Iran, which is diplomatically hostile to the United States, to reduce the role of the dollar in its economy.

Iran has pushed for the Organization of the Petroleum Exporting Countries to switch from the dollar when calculating international oil prices, though it has so far received little support for the initiative.

The Iranian central bank has said it has been diversifying its reserves away from the dollar, but has not revealed details.

http://www.reuters.com/article/asianCurren...L13810020090921

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Meanwhile, in another part of town.........

http://www.timesonline.co.uk/tol/news/worl...et=0&page=1

Western powers demanded access to a secret Iranian nuclear site today and threatened to impose sanctions if Tehran failed to comply with the international community.

The stark ultimatium was issued by the US, Britain, France and Germany at the G20 after Tehran was forced to admit that it had built an underground uranium enrichment plant near the holy city of Qum.

President Obama, flanked by Gordon Brown and President Sarkozy said that Tehran had until October 1 to comply with UN resolutions on nuclear proliferation.

Mr Obama insisted that, despite Iranian protestations to the contrary, “the size and configuration of this facility is inconsistent with a peaceful programmeâ€.

“The Iranian government must now demonstrate through deeds its peaceful intentions or be held accountable to international standards and international law.

“We expect the IAEA to immediately investigate this disturbing information and to report to the IAEA board of governors,†he said, branding the new plant a “direct challenge†to international non-proliferation rules.

Mr Sarkozy went even further, threatening rapid sanctions. “It was designed and built over the past several years in direct violation of resolutions from the Security Council and from the IAEA.

“We already face a severe breakdown of trust. We are now faced with a challenge, a challenge to the entire international community.

“In December, if there is not an in-depth change in Iranian leaders, sanctions will have to be taken,†he said.

blah blah blah blah 1st October blah blah blah blah

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