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Iran's supreme leader: Meltdown marks fall of capitalism

Tuesday 14 Oct 2008 12:00a.m.

Iran's supreme leader: Meltdown marks fall of capitalism

Iran's supreme leader has called the West's financial crisis the end of US domination of the world economy.

Ayatollah Ali Khamenei says "the false bubble of money in the West has broken" and the meltdown marks the fall of Western capitalism.

Khamenei has final say on all state matters in Iran and his remarks were carried on state television Monday.

Despite devastating losses in the international stock markets, Tehran Stock Exchange remained stable, mostly due to isolation of Iran's financial market.

Iran is worrying about falling oil prices due to a decline in demand amid the worsening global economy.

AP

 
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