CBI confirms the local economy is affected by the financial crisis in Europe
29/10/2011 14:21
Baghdad, October 29 / October (Rn) - The Central Bank of Iraq on Saturday that the Iraqi economy has been affected by the financial crisis in which taking place in the countries of Europe. The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the financial crisis in Europe influenced the trading currency difficult in Iraq because it caused the deterioration of prices of oil markets. " He added that "the Iraqi Central Bank is working to provide the processors quickly to avoid financial crises that have emerged in the EU during the recent period and the deterioration of the value of the euro against the dollar." "The economy is affected by the Iraqi crisis, the financial in the countries of the European Union and received because of links to Iraq's financial dealings in the sale of crude oil to European markets. " He said Central Bank of Iraq to address the economic problems require the expansion of activities of tax in the country and make sweeping reforms in the administrative dealings of the General Authority for Taxes of the Ministry of Finance. and supports the Iraqi economy, mainly on and the man was of crude oil. plans to Iraqi oil to increase its exports during the next six years to 12 million Bermaleomaa after obtaining the approval of the world's oil (OPEC) and confirmed the meetings of the «crisis summit» the fourth session, held in Brussels on the twenty-sixth of this month, Europe's leaders to address the the debt crisis that threatens the world disaster funds not less than one financial crisis suffered in 2008. and demanding investors to resolve and clear-cut crisis deals with 4-axis major, the package is sufficient to resolve the crisis Greece's debt and increase capital stabilization fund, the European financial so that it can buy bonds, debt heavily indebted countries such as Greece, Italy, Spain, and enough money to meet their future needs, in addition to the capitalization of banks and amendments to the euro area financial mechanisms to allow them to legally deal with the critical financial crisis. But indications are that Europe is still far from that. showed a draft statement of EU leaders, who held a summit until late in the evening, the twenty-sixth of this month in Brussels, that the Government of the Union may provide guarantees to banks that apply for funding to avoid a credit crunch and to help them continue lending to the economy. The draft statement, which describes the result of the expected agreement in the Summit of Heads of States and European governments «must be guarantees for the obligations of banks to provide more direct support to banks in access to finance forward when appropriate». From: Jafar Allonan RN: Peace Baghdadi
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