Is Iraq still using the Euro standard instead of the dollar?

[talkinghand]

Now that the U.S. has taken control of Iraq, have we forced that country to go back to the dollar standard?

I'm having trouble finding current information -- so I'm accessing the massive resource base of D.U. for some help here...

Saddam had switched to the Euro in 2000 which I do believe pi$$ed SOME people off!

Thanks for any research, links, &c...

Eddie

[keopeli]

1. Oh, no. That was one of the first things Bush* changed when he took Iraq.

[talkinghand]

2. Have you got a link?

I would really appreciate it!

Thanks in advance...

Eddie!

[punpirate]

3. No...

Iraqi payrolls are on the dollar standard. There's little said about oil, but it can be presumed that oil is transacted on the dollar standard, as well.

http://www.ucsdguardian.org/cgi-bin/opinion?art=2003_02_13_03

http://www.projectcensored.org/publications/2004/19.html

http://www.cpa.org.au/garchve03/1127currency.html

Not a lot of mainstream sources on this issue, but, since the US is running the show in Iraq, it's probably certain that newly-formed banks in Iraq are dealing mostly in dollars.

Wish there were quickly-found sources in the NYT and WP, but they're just not there, from what I can find on short notice.

Cheers.

[talkinghand]

4. I found a link!

via this thread in DU...

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=114&topic_id=3821

It's the reference from the U.K. source down the page aways...

Thanks for this other info, too... I appreciate it...

Eddie

[MrPrax]

5. EUs to dollars

From an insider:

So if, as you argue, they knew there weren’t any of these WMD, then what exactly drove the neoconservatives to war?

The last reason is the conversion, the switch Saddam Hussein made in the Food for Oil program, from the dollar to the euro. He did this, by the way, long before 9/11, in November 2000 — selling his oil for euros. The oil sales permitted in that program aren’t very much. But when the sanctions would be lifted, the sales from the country with the second largest oil reserves on the planet would have been moving to the euro.

The U.S. dollar is in a sensitive period because we are a debtor nation now. Our currency is still popular, but it’s not backed up like it used to be. If oil, a very solid commodity, is traded on the euro, that could cause massive, almost glacial, shifts in confidence in trading on the dollar. So one of the first executive orders that Bush signed in May <2003> switched trading on Iraq’s oil back to the dollar.

http://www.laweekly.com/ink/printme.php?eid=51202

an insider's account confirms what most folks looking at this same problem thought all the long

Currency Bubble?