Tuesday 14 October 2008

Iran: Markets crisis end to US rule

(AP)

Iran's supreme leader has called the West's financial crisis the end of U.S. domination of the world economy. Ayatollah Ali Khamenei says "the false bubble of money in the West has broken" and the meltdown marks the fall of Western capitalism.

Despite devastating losses in the international stock markets, Tehran Stock Exchange remained stable, mostly due to isolation of Iran's financial market. Iran is worrying about falling oil prices due to a decline in demand amid the worsening global economy.

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