Press TV
December 24, 2008
The Iranian president calls on a regional economic body to abandon the US dollar in order to reduce the effects of the financial crisis.
In a Tuesday speech to a meeting of the Economic Cooperation Organization (ECO)*, President Mahmoud Ahmadinejad said the 10-member group of Asian nations could adopt a single currency instead of the US dollar to shield their financial systems from the negative impacts of the global economic crisis.
*ECO was originally founded by Iran, Pakistan and Turkey, but was later joined by the Central Asian states of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, as well as Azerbaijan and Afghanistan.
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By decreasing the demand for US dollars you also reduce it’s value. Click here for an explination of why.
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