Iranian president: Capitalist greed behind global crisis

In a Tuesday meeting with representatives of the Developing Eight countries (D8), Ahmadinejad reiterated that western-style capitalism is the main reason behind the endless wave of problems plaguing global financial organizations, particularly in the US.

The Iranian President added that Western countries should face up to the fact that the greed of capitalism has pushed it into 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.

The D8 members consist of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.


/Press TV/