WAS THE IRAQI SHIFT TO EURO CURRENCY THE "REAL" REASON FOR WAR?

Apparently there is belief that the "real" reason for the war against Iraq was Sadam Hussein’s decision to price Iraqi oil in the new EURO currency of the European Union rather than in U.S. Dollars. The argument goes that unless the price of oil is denominated only in Dollars, then the U.S. would not be able to continue to run huge balance of payments deficits. The argument is based on the idea that the motivation for other nations to hold accounts and reserves in Dollars is that they can use them to pay for oil.

The €uro: Our Currency

The first euro coins were introduced on 1st January 2002 and replaced twelve different sets of coins in the previous national currencies.

The Member States of the euro area issue their own euro coins, although the volumes issued are subject to approval by the European Central Bank.

Each euro coin has a common European design on one side and an individual national design on the other. However, the technical features of the coins (size, weight, metals used) are identical across all euro countries.

There are eight different denominations in the current euro coin series, ranging from the 1 cent to the €2 coin. Examples of the Irish coins are included in the left-hand sidebar.