Syria switches to euro amid confrontation with US

[FreedomAngel82]

Link: http://today.reuters.com/news/newsarticle.aspx?type=politicsNews&storyid=2006-02-13T153028Z_01_L13432231_RTRUKOC_0_US-SYRIA-US-FOREX.xml&rpc=22

Snip: <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. >

More at the link....

[Skink]

1. Ruh Roh..

:nuke:

[Selatius]

2. Nations must be forced to accept the US dollar for oil only

If nations begin switching off to the Euro, it will devalue the US dollar as demand for US dollars dries up, and since the US consumes more goods and services than it exports and since such activity can only be sustained by a relatively powerful dollar, without it, the US economy will implode, and our standard of living will disappear and be replaced by something far worse.

If this is how the US ends, I pray to God it ends in a peaceful manner rather than the US taking down everybody in a hailstorm of violence and upheaval.

[Skink]

4. Maybe Iran will move up the boarse...

[dweller]

10. bourse

just in case someone wants to google it.

not that it matters, it's going to get ugly no matter how it's spelled.

dp

[Nothing Without Hope]

3. Feb 13 LBN thread on this story LINK:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2105616
thread title (2-13-06 LBN): Syria switches to euro amid confrontation with US

I'm glad to see it reposted - it's no longer visible on the main pages of DU - but you'll want to be able to see the comments in the earlier thread too.

[bbinacan]

5. Odd and just a political move

The euro vs. the dollar. No contest. The European Economic Union has collapsed, along with the euro.

[karlrschneider]

8. I can't figure out what you're saying....the EU has collapsed?

?

[bbinacan]

9. Yes

All countries are backing a way.

[XOKCowboy]

6. Ahh remember when the United States was a great nation....

Sad isn't it? Welcome to NeoConWorld. Enjoy the ride.

[FreedomAngel82]

7. And wasn't

Hussein going to do this too before we invaded?