GCC slow on single currency
MUSCAT - The Gulf Co-operation Council (GCC) is unlikely to meet the 2010 deadline to launch a single currency, despite signing the long-awaited monetary union pact on December 30, say analysts.
The pact, which was signed at the 29th annual summit meeting in Muscat, Oman, paves the way to greater monetary union between the GCC nations. It will see the establishment of a monetary council ahead of a GCC central bank, which in turn will issue a single currency for the six-nation economic bloc
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