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Wednesday, June 2, 2004 |
Financial Times: "The Iraqi government took the decision prior to the Iraq war to price its oil output in euros. Whilst clearly inflammatory to the US, this strategy showed a clear understanding by Iraq of the risks of pricing a commodity in a weakening currency.
The euro is billed as a stable if unexciting currency. However the euro area has a strong trade surplus and is not burdened by consumer debt. How long before Opec decides to price in euros?"
10:46:58 AM 
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© Copyright 2004 Hetty Litjens.
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