13.11.2008 - GCC not ready to float currencies
From Gulfnews.com: Gulf countries are not yet ready to float their currencies or their unified currency as and when it happens, according to Jean-Pierre Beguelin, chief economist of Pictet, a Swiss private bank. Beguelin argues that GCC countries, with their huge oil surpluses, would face severe upward (exchange rate) pressure on currencies if they decide to float....... Full Article: Source