Monday, March 13, 2006

Straw Says Iran's Actions Causing 'Serious Damage' to Investor Confidence

AFX News, Interactive Investor:
Iran's actions over its nuclear programme are beginning to cause "serious damage" to investor confidence there, said UK Foreign Secretary Jack Straw. Speaking on BBC radio ahead of a speech on Iran here, Straw added there had been a "flight of capital" out of the country, without citing sources for this claim.

"The result of Iran putting itself beyond the pale in the international community has been a serious damage to investor confidence," he said.

"The Iranian stock exchange, which is actually quite busy normally, has declined significantly."

"There's been a flight of capital out of the country and even more worrying for the regime, the brightest and the best of Iranians continue to leave the country in large numbers."