What would happen if middle eastern nations started demanding the euro for oil payments. Iraq converted in 2000, not for long though. many experts say there would be hyperinflaion. what do you think.
2006-09-29 07:39:30 · 5 answers · asked by Luke F 3 in Politics & Government ➔ Other - Politics & Government
or the short answer. the US would puchase oil in Euro. And US customers would see coversion costs at the pump.
2006-09-29 07:58:03 · answer #1 · answered by Thoughts Like Mine 3 · 0⤊ 0⤋
The Middle Eastern nations are already giving away oil to the US for very nominal prices. They will never ask for Euro in exchange. The US owes them a lot of money but they can't dare to ask for their money. The US knows where it stands. Because of their own mistakes they can't defy America. Here's what you call farsightedness and smartness. God bless!
2006-09-29 14:54:14 · answer #2 · answered by Harry thePotter 4 · 0⤊ 0⤋
news! News! Eastern nations are demanding money for their oil!!! News!!
2006-09-29 14:44:34 · answer #3 · answered by alfonso 5 · 0⤊ 0⤋
Why would that create hyper inflation? All it would do is destroy the value of their own currency while helping the euro.
2006-09-29 14:44:12 · answer #4 · answered by Fire_God_69 5 · 0⤊ 0⤋
Geez, I've misplaced my econ degree (and my crystal ball) - again!
Can I get back to you on this one?
2006-09-29 14:44:18 · answer #5 · answered by Walter Ridgeley 5 · 0⤊ 0⤋