Chavez: Bring on the ruble

Posted By Patrick Fitzgerald Wednesday, July 23, 2008 - 11:30 AM Share

ALEXANDER NEMENOV/AFP/Getty Images

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.

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