Bank of Russia Boosts Euro Share in Currency Reserves

[NNN0LHI]

http://www.mosnews.com/money/2005/03/21/cbeuro.shtml

The Bank of Russia has increased the share of the euro in Russia’s currency reserves from 0.1 to 0.2, the public relations department of the Bank reported Monday, RIA-Novosti news agency reported.

“Beginning March 15, 2005 the Bank of Russia has set the following structure of the bi-currency basket: 0.2 euros and 0.8 U.S. dollars,” the Bank said in a statement.

The Central Bank noted that the decision to increase the share of the euro is aimed at further stabilizing the ruble exchange rate against the dollar and other leading world currencies.

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[bobthedrummer]

1. Fasten your seatbelts kids...

[SpiralHawk]

2. George Bush and the Republicans are responsible for this

They should do the honorable thing, and admit the mistakes they have made, and start over again. Maybe bring in someone with a clue.

It's plain now. Anyone with the will to see can observe that Bush and the Republicans are trashing the US of A we all love. I say its time for them to own up to the responsiblity and level with the American people.

[Robert Oak]

3. when Russia collapsed, who knew

The shrub acts like it can't happen here, but it happened in Russia,
Thailand, S. Korea...

and it looks bad for us.

[Flammable Materials]

4. 2 years max before meltdown is my prediction. n/t

[applegrove]

5. Not good. Goodwill towards America would have gone a long way

make this less of a problem. But what with the USA in a powerplay to have control over Oil Reserves and being such opportunists regarding Oil...I am not surprised.

The trouble with taking on Russia and China is that whatever you do to them.. you cannot make it worse for them than it was under communism.

And like the addiction to anything... George Bush and the USA get smaller and smaller every day (in terms economic clout).

Personally I would not have squandered 200 years of goodwill. I would have gone after Iraq using human rights abuses and not tried to create precedents for future wars.