Sunday, June 06, 2010

Iran Dumps Euro Reserves for Dollars; Debt Crisis in Japan; Govt Sponsorship of Newspapers; Govt to Collect ATM Records, Addresses of Bank Customers

Here are a few stories from the past week that caught my eye.

Iran Sells Euro Reserves for Dollars

With all the talk a year ago over pricing oil in Euros, this headline sure has me laughing: Iran Selling 45 Billion Euros of Reserves for Dollars http://www.bloomberg.com/apps/news?pid= ... lkmEhesqLc

Iran’s central bank began the first phase of the 45 billion-euro ($55 billion) sale of some of its reserves for dollars, the state-run Jaam-e-Jam newspaper reported, citing people it didn’t identify.

The bank is selling 15 billion euros in the first of three stages, which will be completed by Sept. 22, the newspaper reported on its website on May 31.

Iran will “substantiallyâ€