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GCC summit eyes common currency

Posted on 29 December 2008

From AP: In a gathering marred by Israeli attacks on Gaza and pressured by the ailing world economy, leaders of the six Gulf Arab nations are gearing up for a summit in which they are expected to tackle head-on a long-elusive monetary union agreement.

The two-day meeting, beginning Monday in the Omani capital, Muscat, has been touted as a key step in helping the Gulf Cooperation Council’s six member states realize a goal of a common currency and broader economic unity. The push is made all the more relevant by the global economic crisis that has hit hard even these oil rich nations….. Full Article: Source


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