Gulf countries take steps to achieve monetary unity - Al-Monitor: the Pulse of the Middle East:
"The idea of a monetary union between the Gulf Cooperation Council (GCC) countries was proposed at the recent summit held in Kuwait on Dec. 10-11. The idea seems closer to being realized than ever before, especially after Saudi Arabia, Kuwait, Bahrain and Qatar agreed to establish a unified central bank that will issue a unified currency starting in early 2015. This ambitious project had faced many obstacles, and Oman and the United Arab Emirates decided to abstain. The sovereign debt crisis that affected the eurozone and its impact on the exchange rate for the unified European currency were food for criticism."
'via Blog this'
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