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IPFS News Link • Economy - International

Panama plans to add euro to dollar


­He revealed the plan to German Chancellor Angela Merkel during a visit in Berlin this week. "In Panama the currency in free circulation is the American dollar and I told the chancellor we are looking for ways for the euro to become another currency of legal circulation and to be accepted in the Panamanian market," Ricardo Martinelli said.

The president expressed "full confidence" in the stability of the German and European economies and stressed he expected the euro zone fiscal problems to be resolved soon. Concerns over a possible breakdown have eased since the European Central Bank said it was ready to start buying government bonds- in the so-called buy-back program – to reduce the borrowing costs of troubled countries such as Spain and Italy.

2 Comments in Response to

Comment by PureTrust
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If he adds the Iraqi dinar to the list of Panamanian currencies, I might even be convinced to move there.

Comment by PureTrust
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This Panamanian president be one shrewd president. Cover all the bases. Too bad the global warming caused by - and the subsequent flooding of most of Panama - will make most (if not all) of Panama entirely uninhabitable.

Some folks I know own land in the mountains near or in Volcán, Panama. That is just about the only general area of Panama that might be habitable in the near future, after the Fukushima meltdown - the Panamanian mountains. Buy land there.