| When the deadline for the introduction of a GCC single currency came and went last year, few were surprised. The project — much lauded on its launch in 2001 — has in many ways been doomed from the start. First there were the initial rows between Saudi Arabia and the UAE over the location of the central bank, then Oman and the UAE's withdrawal from the project.
Even if that wasn't enough, the dire straits that the euro finds itself in at the end of 2011 certainly hasn't done much to restore faith in single regional currencies.............................................Full Article: Source
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