Iran To Use Euro Instead Of US Dollar In Next Year's Budget

[Jcrowley]

Iran to use euro instead of US dollar in next year's budget

dpa German Press Agency
Published: Monday December 18, 2006


Tehran- Iran has decided to use the euro instead of the US
dollar in the country's budget for the next Iranian year (21 March
2007-20 March 2008), the news network Khabar reported Monday.
Government spokesman Gholam Hossein Elham said the switch would be
made not only in the budget but also in foreign as well as oil trade,
and also assets abroad, in a move to end Iran's dollar dependence.


http://rawstory.com/news/2006/Iran_to_use_euro_instead_of_US_doll_12182006.html

Iran to replace dollar with euro
Iran also indicated that it will calculate its budget revenues in euros 

The Iranian central bank is to convert the state's foreign dollar assets into euros and use the euro for foreign transactions.
 
"The government has ordered the central bank to replace the dollar with the euro to limit the problems of the executive organs in commercial transactions," said Gholam Hossein Elham, a government spokesman, on
Monday.

"We will also employ this change for Iranian assets (in dollars) held abroad."
 
Elham added that Iran's budget would in future be calculated in euros. "Until now the budget has been calculated according to revenues in dollars but this calculation will now change," he said.

http://english.aljazeera.net/NR/exeres/57E17F90-F717-45AF-B56E-87235A4BD8B6.htm

[itsmesgd]

1. how long before we (citizens) do the same

I think that it would be a hilarious coup if stores started taking euros in the states. I've contemplated buying and holding onto a few euros myself in the event that I should ever leave the states. It would be nice to have some currency waiting on me when I get to wherever I end up deciding to go.

[madokie]

2. thanks georgie, you've really made a mess of things ain't ya

our friends are turning away, our fuel to stay warm is about to run out. I say to you as your vp would say to Senator Leahy, go f yourself

[demnan]

3. aut oh!

Isn't that what Saddam did in 2001?

[Donnachaidh]

4. and how many ships do we have in the Persian Gulf?

Gotta keep those petro-dollars afloat. :sarcasm:

[sinkingfeeling]

5. When Saddam proposed using the Euro in the oil business, look what happened.

[warrens]

6. Next up: China

As Bush's policies send us down the road to total irrelevency.