DAILY DIALECTIC
March 25, 2009
Geithner, at the Council on Foreign Relations, said the U.S. is 'open' to a headline-grabbing proposal by the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar, but which Geithner described as more modest and 'evolutionary.'... The continued use of the dollar as a reserve currency, he added, 'depends..on how effective we are in the United States...at getting our fiscal system back to the point where people judge it as sustainable over time.'..."
  • Geithner 'open' to China proposal on a global currency