A UN report released on Tuesday calls for abandoning the US dollar as the main global reserve currency to achieve greater stability in the world financial system.
“The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” said the World Economic and Social Survey 2010.
Nobel Prize-winning economist Joseph Stiglitz, who previously chaired a UN expert commission that considered ways of overhauling the global financial system, has advocated the creation of a new reserve currency system.
Russia and China have also supported the idea.
http://www.presstv.com/detail.aspx?id=132688§ionid=3510213
