‘US at fault for financial collapse’

IRAN’S president blamed US military interventions around the world in part for the collapse of global financial markets.

“The US government has made a series of mistakes in the past few decades,” Ahmadinejad said. “The imposition on the US economy of the years of heavy military engagement and involvement around the world... the war in Iraq, for example. These are heavy costs imposed on the US economy.

“The world economy can no longer tolerate the budgetary deficit and the financial pressures occurring from markets here in the United States, and by the US government,” he added.

In a separate interview with National Public Radio, Ahmadinejad said he does not want confrontation with the United States. He said he wants diplomatic relations to develop between the two countries.

Despite UN sanctions against Iran over its nuclear programme, Ahmadinejad claimed vast international support for his position and said the campaign consisted “of only three or four countries, led by the United States and with a couple of their European friends“.

Iran insists its nuclear activities are geared only toward generating power. But Israel says the Islamic Republic may have enough nuclear material to make its first bomb within a year.