US debt could trigger dollar collapse, UN warns
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The United States dollar is facing imminent collapse in the face of an unsustainable debt, the United Nations warned today.
United States debt, which had now deepened to well over $3 trillion,
might turn out to be unsustainable in the rest of 2007 or next, putting
further downward pressure on the United States dollar, Rob Vos, the
Director of the Development Policy and Analysis Division of the
Department of Economic and Social Affairs (DESA), told correspondents
at a Headquarters press conference.
He pointed out that since its peak in 2002, the dollar had
depreciated vis-Ã -vis the major currencies by some 35 per cent and by
25 per cent against a broader range of other currencies.
http://www.un.org/News/briefings/docs//2007/070530_Ocampo.doc.htm


