Inflation major risk to GCC currency bid

According to this recent article published on the Trade Arabia website, petty politics and diverging inflation rates are the main risks to the Gulf's attempts to set up a monetary union by 2010.

"GCC, grouping Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman, has already set up a customs union, and this month GCC chief Abdul-Rahman Al Attiya said the currency plans were on track," the article says.

"But analysts say the main concern is whether the leaders of six nations, only recently formed

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