Wednesday, July 23, 2008 - 11:30 AM
Despite assurances from some that the declining dollar will remain the world's primary reserve currency, there may be an emerging threat -- the Russian ruble. That is, at least, if Hugo Chávez has his way:
Chávez echoed Russian calls to make the ruble a major reserve currency in opposition to a weakened dollar. "The ruble must become a world currency," he said. "The dollar must not become a world currency."
After inking a $1 billion arms deal in Russia, Chávez continues his European tour with visits to Belarus, Portugal, and Spain. No word on whether he's considering a stop to see Barack Obama's speech in Germany.
Passport, FP’s flagship blog, brings you news and hidden angles on the biggest stories of the day, as well as insights and under-the-radar gems from around the world.
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