Process of Ditching US Dollar ‘Irreversible’
TEHRAN (Tasnim) – French-based newspaper ‘Le Figaro’ in its latest article on Wednesday wrote that most countries in the world are presently preparing themselves to sideline US dollar in their transactions and this process is “irreversible”.
Most world countries are currently willing to ditch the American greenback and Washington has pushed itself into this situation, French analyst Reno Gerard wrote in the article.
He said the Americans have used their currency as a tool for political pressure on other countries which has caused a global movement for toppling the US dollar.
He described the process of removing and ditching the US dollar as “irreversible”.
Many countries want to get rid of the US dollar domination on global transactions in order to protect themselves against the whims of the White House.
He also pointed to the programs adopted by BRICS (including Brazil, Russia, India, China and South Africa) countries to launch an exclusive currency for trading and also China Interbank Electronic Settlement which is the rival to the Western-dominated SWIFT system.
It is too soon to say farewell to the US dollar but many countries in the world want to carry this out ASAP.