Friday, June 13, 2003

Jeff Frankel has an interesting idea about what to do with the new Iraqi currency:
define the value of the dinar as one-third of a dollar plus one-third of a euro, plus one-hundredth of a barrel of oil.
Hopefully this kind of sensible thinking will carry the day and we won't hear any more calls for dollarizing the country ("Experts from Treasury are deciding how best to scrap the Iraqi currency -- featuring likenesses of Hussein -- and replace it, at least temporarily, with the U.S. dollar," Washington Post, 2 April 2003)!

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