Putin: Why Not Price Oil in Euros? (Is Putin tired of being Pootie?)

[donsu]

http://www.moscowtimes.ru/stories/2003/10/10/001.html

President Vladimir Putin said Thursday Russia could switch its trade in oil from dollars to euros, a move that could have far-reaching repercussions for the global balance of power -- potentially hurting the U.S. dollar and economy and providing a massive boost to the euro zone.

-snip-

"Putin's putting a big card on the table," said Youssef Ibrahim, managing director of the Strategic Energy Investment Group in Dubai and a member of the U.S. Council on Foreign Relations, an influential body of leading world thinkers thought to help set the United States' foreign policy agenda.

"In the context of what is happening worldwide, this statement is very important," he said.

-snip-

Putin had previously brought up the proposal to switch to euros as prime minister in October 1999, at a meeting of EU leaders in Helsinki. Then, in an attempt to forge a new bloc to counterbalance the United States, he made the proposal alongside calling for closer cooperation between Russia and the EU, including on security issues.

-snip-

But even Fedun could not help putting a political price tag on the move. "We are ready to move to the euro if the country will be included in a visa-free regime with Europe," he said.
-snip-
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what will be the bushgang's offense to this? shock and awe, or, shadowy and slither.

[madrchsod]

1. a visa free regime

in europe...another slap in the face to the usa.....

[muriel_volestrangler]

9. Europe wants to keep Russia needing visas

it would consider it a very high price to pay. Visa-free travel from Russia to Europe would mean a load of illegal immigration for black-market jobs, which would destablize the economy. If that is Russia's price for pricing oil in euros, don't expect it to happen soon.

[MoonAndSun]

2. Pootie-Poot plays AWOL like a violin.......

and then AWOL sits there like a satisfied sexual partner while Putin screws him over.:evilgrin:

Why AWOL's handlers ever let him meet with Pootie one on one is a mystery to me. bush* nevers stands a chance with him.

[GainesT1958]

3. Dub looked into Putin's eyes, and saw...

Two shiny new Euro coins! :eyes:

You know, Dub & Co. deserve every bit of this "Euro-rush" by Russia and, potentially, OPEC, but the sad thing is, the REST of us suuure DON'T! :mad:

B-)

[rucky]

4. Better we start to feel the prickly heat now...

rather than wait to see if * gets reelected.

[brainshrub]

5. The implications of this are huge!

Most Americans do not understand the implications of this act...it could very well be the start of the unraveling of the U.S. economy.

Here's why: When commodities are valued in dollars, the US needs do no more than print pieces of green paper to obtain them: it acquires them, in effect, for free. Once earned, other nations' dollar reserves must be invested back into the American economy. This inflow of money helps the US to finance its massive deficit. When commodities are priced in Euros, all the dollars in the global marketplace will come back and flood the American economy. Our dollars will not be worth toilet paper.

[theivoryqueen]

6. is it true

that Iraq, Iran and North Korea were all considering switching from dollars to euros (for debt purposes) prior to the "axis of evil" speech?

[Wickerman]

7. Not sure of those three in particular

but I recall reading that OPEC was considering it.

Bush* (aka dim bulb) looked in the eyes of the master spy and saw what the spy wanted him to see, complete honesty. Surprise, surprise, Bus* has been played like wax paper on a greasy comb.

[TreasonousBastard]

8. Iraq had converted...

and others were thinking about it.

Another of the "real" reasons for taking out Iraq.

Since most of the Middle East sells oil to us, but buys stuff from Europe, trading oil in Euros makes a lot of sense. It would, however, make the dollar worthless and possibly start a worldwide depression if it brings down the US economy. Nothing like this has ever happened before, so no one knows what the efects could be.

They probably won't be good, though.

[SOS]

10. Is a Paris-Berlin-Moscow alliance

taking shape behind the scenes? Seems bush is a uniter after all.

[HFishbine]

11. Careful Pootie Poot

This is just what Saddam tried to do.