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http://www.vheadline.com/readnews.asp?id=8613

Posted: Wednesday, June 18, 2003
By: Roy S. Carson

Venezuelan move to replace US$ with the €uro upsetting Washington more than Saddam's €uro conversion last November

[...]

International finance experts see how the US dollar has been devaluing against the €uro, as important players on the international scene convert to the European currency for more stable transactions ... Russia, China, North Korea and Malaysia have begun holding €uros as important hedgings in their foreign exchange reserves as faith in American greenbacks floats down the river.

[...]

Arab sources claim that €uro conversion across the Middle and Far East is a rational step to counteract the United States' capacity to "wage further illegal wars (a.k.a. State-sponsored terrorism)" around the world and that any prolonged occupation of Iraq by US/British forces ... and any move towards withdrawal of Iraq from the OPEC cartel ... will only precipitate "remedial action" by like-minded Arab nations to protect their own best interests over Washington's.

[...]
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