Syria switches to euro amid confrontation with US Mon Feb 13, 2006 10:31 AM ET165 DAMASCUS (Reuters) - Syria has switched all of the state's foreign currency transactions to euros from dollars amid a political confrontation with the United States, the head of state-owned Commercial Bank of Syria said on Monday. "This is a precaution. We are talking about billions of dollars," Duraid Durgham told Reuters. The bank, which still dominates the Syrian market although private banks have been allowed to set up in the last few years, has also stopped dealing with dollars in the international foreign exchange flows of private clients. The United States has been at the forefront of international pressure on Syria for its alleged role in the assassination of former Lebanese Prime Minister Rafik al-Hariri a year ago. Damascus denies involvement in the killing. "It looks like a kind of pre-emptive action aimed at making their foreign assets safer, preventing them from getting frozen in case of any conflict," said a Middle East economist who requested anonymity. http://today.reuters.com/news/newsa...432231_RTRUKOC_0_US-SYRIA-US-FOREX.xml&rpc=22
OMG, how dare they?! DESTROY THEM! Or not, because we really don't care. Syria, what a top ranked economy they have.
This is serious blow to the US $ , the Euro is the new global currency , this is just another nail in Americas economic coffin . All nations are stocking up on the Euro as an economically united Europe with a single currency dwarves Americas shrinking economy . Here is my favourite Bill Gates has dumped the US $ for euros . But here is the final death knell , it happens in march Yes I can clearly here the US economy being flushed down the Fucking toilet .
well, brian foley...just because you have to sit a bit tighter with your sister in a car doesnt mean that you will fall out of the window. americans are inventive, innovative people. we will find a way out of the hole bush is digging.
Holy Moly! I never heard that! I was beginning to doubt some of the people I read. If Bill Gates is changing to the Euro, you KNOW the dollar is going to tank. Finanacial people NEVER let propganda get in the way of money. So what if Bill is an American and George says everything is fine? Bill will protect the money and worry about what people call him later. “It is a bit scary,” Gates said. “We’re in uncharted territory when the world’s reserve currency has so much outstanding debt.”
bill gates' move actually makes sense. they just opened the source code for windows, so its obvious that microsoft has their next generation product all developed and ready for manufacture. now, with the euro being the dominant currency in the world market right now, doesnt it make sense for him to start investing in THAT, in case the new product doesnt do as well as expected? the exchange rate would be KILLER for him, and how much money he has.
