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Russian President shows off Future World Currency

July 14, 2009
Russian President Dmitry Medvedev shows reporters a sample coin of a possible global currency during a news conference at the G8 summit in L'Aquila, Italy, Friday, July 10, 2009. Medvedev at G8 was given the first coin of future supranational currency which he called a "united future world currency." (AP Photo/RIA-Novosti, Mikhail Klimentyev, Presidential Press Service)

Russian President Dmitry Medvedev shows reporters a sample coin of a possible global currency during a news conference at the G8 summit in L'Aquila, Italy, Friday, July 10, 2009. Medvedev at G8 was given the first coin of future supranational currency which he called a "united future world currency." (AP Photo/RIA-Novosti, Mikhail Klimentyev, Presidential Press Service)

13 July 2009

By Alexandra Odynova / The Moscow Times

After months of pushing for a new world currency, President Dmitry Medvedev had more than an idea to tout at his G8 news conference. He had the real thing.

With a broad grin, Medvedev held aloft a shiny gold coin Friday that he said represented a “symbol of unity” and a possible “future world currency.”

“I have some supranational currency in my pocket that I got as a souvenir. This is a test sample of a currency unit under the Unity in Diversity motto,” Medvedev said, holding the coin between two fingers.

“It is called the United Future World Currency. It can already be seen and touched,” he said, according to a transcript posted on the Kremlin’s web site.

Examples of the coin, worth $3,900 and produced by the United Future World Currency, a group backing the idea of a global currency, was presented to all world leaders attending the Group of Eight summit in L’Aquila, Italy.

The coin was made by Belgian Luc Luycx, who also designed one side of the Euro coins, and are called “eurodollars” in a symbolic call for a common currency to unite Europe and the United States.

Medvedev pulled out his coin when reporters asked him about new reserve currencies at the news conference that closed the three-day summit. “This is a symbol of our unity and our desire to solve such issues,” Medvedev said.

Russia and China have called for a “super currency” to replace the U.S. dollar as a reserve currency, and French President Nicolas Sarkozy said at the summit that the dollar’s supremacy as a reserve currency is outdated.

“This has become a regular theme now,” Medvedev said Friday. “We are discussing the creation or, to be more correct, the appearance of new reserve currencies, including the possibility of making the Russian ruble such a currency unit.”

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