May 4th, 2006

Aljazeera on the Iranian oil bourse, a commodities market for oil that, uniquely, would be priced in Euros rather than the US Dollar. Background here.

The debate over the ultimate financial impact of trading oil in Euros rather than dollars is a complex one, but according to many experts, such a move could lead to a collapse in value for the American currency, potentially putting the U.S. economy in its greatest crisis since the depression era of the 1930s.

As far as I can make out, the bourse hasn’t actually opened yet.

Comment on this post

You must be logged in to post a comment.