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2005/10/30-11/1 [Finance/Investment] UID:40341 Activity:nil |
10/30 How to solve Iran's stock market woes? Hang the investors! http://www.iranfocus.com/modules/news/article.php?storyid=4208 \_ Threatening other countries, torturing/killing others will solve all problems -- just ask the Bush administration |
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www.iranfocus.com/modules/news/article.php?storyid=4208 Mahmoud Ahmadinejad Irans President says 2 or 3 hangings could end market woes Sun. Ahmadinejad was addressing a cabinet meeting held to discuss the rapidly deteriorating situation at the Tehran Stock Exchange, the daily Ruznet r eported on Sunday. Ministers and experts disagreed with all the different views and proposal s raised at the meeting, which came to an end without any concrete resul ts. 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 finan cial market problems was to frighten speculators by hanging two or three of them. Irans ultra-Islamist President first sent jitters through the countrys ma rkets 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 the m 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 newsp aper Ruznet wrote. Economists believe the situation is becoming more dif ficult to handle day by day. Incendiary statements by Mahmoud Ahmadinejad and other top Iranian offici als have contributed to the creation of an atmosphere of uncertainty and instability in the countrys financial markets, according to analysts. |