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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: zonder who wrote (70376)5/19/2003 8:57:27 AM
From: thames_sider  Read Replies (1) | Respond to of 70976
 
Won't this also provide a strong motive for oil exporters to price (and require payment) in euros, rather than dollars? Being paid in a depreciating currency isn't fun.
The alternative, presumably, would be to insist on more dollars for the oil. That way lies the glorious 70's state of "stagflation", where the economy is stagnant but you also have high imported inflation. used to be aka "the British disease"...


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