By SIMON CONSTABLE
Iran's leaders seem to have contracted a case of economic idiocy.
Let's hope it's not infectious.
Mid-April, the Islamic Republic announced it would start to denominate its holdings of official assets in euros instead of U.S. dollars.
The news comes during a period of fast-deteriorating diplomatic relations between Tehran and Washington, which makes the currency denomination change look like a way for the Iranian leadership to snub the U.S.
Unfortunately, for people of Iran, the decision would seem to be both futile in the near term and one that would auger yet more pain for the already beleaguered economy in the future. Read more here.
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