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Originally Posted by Webby
Dount there is much disagreement on Iran being 4th Coatsy - despite minor ripples in the supply chain..
http://www.eia.doe.gov/emeu/cabs/topworldtables1_2.html
There have been verbals over OPEC valuing oil in currencies other than the US$ - for obvious reasons. Last I looked Iran was still a member of OPEC.
The projected effects of OPEC changing currencies is kinda severe for certain nations and would cause considerable economic upheaval and prob a decision not to be taken lightly. The effect on places like the US would be catastrophic. |
Thats a nice source
So my point stands and is valid. If Iran does start trading their oil in euros and considering they have what ? 20% of the worlds oil then that would make the euros value increase and potentially could start a domino effect with at least 1 or 2 other OPEC members.
I think Iran realize that the damage they could inflict on America by changing to euros would be a lot greater than the damage that a nuclear bomb could do