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Panama wants the euro as legal tender

Panama wants the euro as legal tender
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Panama, one of the fastest growing economies in Latin America, wants to adopt the euro as legal tender to run alongside the country’s US dollar economy.

President Ricardo Martinelli made the request to German Chancellor Angela Merkel during a visit to Europe.

“Panama is a country where the currency in free circulation is the American dollar and I told the chancellor we are looking for mechanisms for the euro to become another currency of legal tender and for the euro to be accepted in the Panamanian market. We would be possibly the only country in the world to have two currencies- the euro and the dollar,” he said.

The president indicated he had every faith that the crisis in the eurozone would soon be at an end. Panama’s economy grew by 10.6 percent last year due to massive infrastructure spending.