Euro hits 1.4 against USD

Following in the ill-fated footsteps of Iraq, now the Saudis take fright and appear to be dropping the US dollar in favour of the Euro as the currency in which oil is traded. Venezuela became persona non grata when they did it, as did Iran when they came close to setting up an oil bourse dominated by Euro. But what of Bush's desert bosom buddies the Saudis? Will he drop them like a cowpat and put them on the Axis of Evil (I-Hate-You) list? This is indeed an interesting turn of events.

I wrote a letter to the Irish Times in January protesting the visit to Saudi Arabia by our own Glorious Leader. You can read it here (you may have to click the little orange square).