NewsSpecial WireIran’s President says “2 or 3 hangings” could end...

Iran’s President says “2 or 3 hangings” could end market woes

-

Iran Focus: Tehran, Oct. 30 – Iran’s hard-line President Mahmoud Ahmadinejad told the latest cabinet meeting in the Iranian capital that “if we were permitted to hang two or three persons, the problems with the stock exchange would be solved for ever”, according to a Tehran-based newspaper. Iran Focus

Tehran, Oct. 30 – Iran’s hard-line President Mahmoud Ahmadinejad told the latest cabinet meeting in the Iranian capital that “if we were permitted to hang two or three persons, the problems with the stock exchange would be solved for ever”, according to a Tehran-based newspaper.

Ahmadinejad was addressing a cabinet meeting held to discuss the rapidly deteriorating situation at the Tehran Stock Exchange, the daily Ruznet reported on Sunday.

Ministers and experts disagreed with all the different views and proposals raised at the meeting, which came to an end without any concrete results. Tempers flew high and participants shouted at each other during the discussion, according to the daily. Frustrated with the inability of his economic advisers and experts to come up with any solution, Ahmadinejad told them that the only way out of the current stock exchange and financial market problems was to “frighten” speculators by hanging two or three of them.

Iran’s ultra-Islamist President first sent jitters through the country’s markets when he said on the eve of the presidential elections in June that “stock exchange activities are a kind of gambling and we are against them”. Gambling is banned in Islam.

Nervous investors have been transferring their capital to other countries, and Dubai has benefited palpably from the flight of capital from Iran. The Tehran Stock Exchange has lost 20 percent of its value in the past four months.

“At the moment there are no buyers in this market, only sellers”, the newspaper Ruznet wrote. “Economists believe the situation is becoming more difficult to handle day by day”.

Incendiary statements by Mahmoud Ahmadinejad and other top Iranian officials have contributed to the creation of an atmosphere of uncertainty and instability in the country’s financial markets, according to analysts.

Latest news

Iran’s 2023 Budget Shrouded In Doubt

On January 22, the Majlis (parliament) approved the draft of the 2023 budget bill proposed by regime president Ebrahim...

Iran: People of Khoy Still Reeling From 5.9-Magnitude Earthquake

An earthquake with a magnitude of 5.9 struck northwest Iran on Saturday, killing at least three people and injuring...

Iran’s Unsolvable Air Pollution Problem

Air pollution will remain at dangerous levels and will increase for the next few days in most big cities,...

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

The implications of EU’s terrorist designation of the Revolutionary Guards (IRGC)

The European Parliament called on January 18 for the European Union to list Iran's Revolutionary Guards (IRGC) as a...

Must read

Bush visit coincides with EU, US cooperation on Iran

AFP: US President George W. Bush will be in...

Iraqi PM to visit Iran next week

Iran Focus: Tehran, Iran, Aug. 03 – Iraqi Prime...

You might also likeRELATED
Recommended to you