Those Stable Iranian Markets

The demise of the "petrodollar" is much bandied about, but it's going to take much more than Iran's attempt to establish a Euro-based trading market to bring it down. Iran is volatile and has a suspect legal system, and neither one of these things would inspire much faith in their markets. You also have to wonder why the hell the EU would want to run currency deficits in the first place, but nobody ever said governments were expected to make any sense at all.