A senior Russian Central Bank official on Monday called reports that Italy and Germany could drop the euro "just rumors," and said Russia has no intention of changing its reserves structure in the wake of France's and the Netherlands' strong rejection of the European Union constitution last week.
The euro fell sharply after the national referenda.
The Russian Central Bank is one of the largest buyers of euros in the world and currently holds 30 percent - plus or minus 5 percent - of its total reserves in euros, Central Bank deputy chairman Alexei Ulyukayev said, according to Dow Jones Newswires.
Ulyukayev's comments came after an Italian minister suggested holding a referendum on bringing back the lira. The German weekly Stern, meanwhile, reported that the German government and the Deutsche Bundesbank had discussed the possibility of returning to the mark. That report was denied by both sides, however.
"We won't react to rumors," Ulyukayev said.
Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.