As Iran’s Currency Keeps Tumbling, Anxiety Is Rising

By Thomas Erdbrink, New York Times, October 4/5, 2012

TEHRAN — For months, since the imposition of harsh, American-led sanctions over Iran’s nuclear program, the country’s leaders have sworn they would never succumb to Western pressures, and they scoffed at the idea that the measures were having any serious impact. But after a week in which the Iranian currency, the rial, fell by a shocking 40 percent and protests began to rumble through the capital, no one is making light of the mounting costs of confrontation.. [....]

Experts are divided about whether the crisis has been caused more by Tehran’s longtime mismanagement of the country’s economy or by the American-led sanctions, which have been imposed over Iran’s refusal to halt a nuclear program that the West suspects is a cover for developing weapons. Whatever the cause, members of the once-vibrant middle class have turned into cynics, many of whom say they might be alive, but are not living [....]