from bna.........
"Major international and political developments, like the global crisis, the European sovereign debts crisis and political developments in some Arab countries, represent an impetus to speed up the GCC Monetary Union," he affirmed.
"The main lesson to draw from all of this is the need to accelerate the setting up of a strong political and economic entity through the establishment of the Customs Union, the GCC Market and the Monetary Union," he stressed pointing out that the GCC countries have already embarked on setting up the monetary council and choosing a place for the Central Bank.
Concerning pegging the GCC currency to the dollar, he described this connection as historical and justified by many reasons. However, many local economies in the Gulf have suffered as the dollar has lost more than 46% of its value since 1986"...........LINK
also........A Case For A Single Currency.............from gulf news.........LINK
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