At a meeting yesterday with representatives of the Developing Eight countries (D8), Iranian President Mahmoud Ahmadinejad reiterated that Western-style capitalism is the main reason behind the endless wave of problems plaguing global financial organizations, particularly in the U.S.
He added that Western countries should face up to the fact that the greed of capitalism has pushed it to the brink of collapse.
"The whole idea of capitalism is based on emptying the pockets of world's nations to secure the interests of a selected few," he emphasized.
Ahmadinejad also urged D8 member states to drop the American dollar in their various financial dealings and business transactions in the future.
Representatives from the D8 member states have gathered in Tehran to discuss ways of promoting economic and industrial cooperation.
D8 member countries are Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
Source: Press TV, Iran, March 3, 2010
