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Published: 7:03AM Monday July 06, 2009 France, Russia want reserve debate Russia sees no obvious replacement for euro, dollar ECB's Trichet says US strong dollar support important France and Russia have urged a debate about the world's reserve currencies saying the current system, which is dominated by the US dollar, was out of date. However, Russia said at the moment there was no obvious replacement for the US dollar and the euro and European Central Bank Jean-Claude Trichet said it was important that the United States stayed committed to a strong currency. Leaders from the Group of Eight major industrial nations and the world's main developing economies will hold talks from July 8-10 in the Italian city of L'Aquila. China has been pushing for a debate on reserve currencies at the meeting. "We should explore a better... [read full story]
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