Table of Contents
Executive summary3
Introduction4
History.4
Objectives4
be and benefits of a monetary union4
The internal exchange stray4
The external exchange reckon4
Characteristics of GCC4
Main economic indicators4
condescension cycle4
Trade4
Monetary Side4
Exchange rate4
Interest rate4
Inflation4
Fiscal side4
dearth4
Debt4
Convergence4
Diversification and further issues.4
Enlargement4
Costs and benefits of a Gulf Monetary Union4
Bargaining Power4
to a greater extent intra avocation:4
Conclusion4
Tables4
Figures4
End notes4
Reference4
Executive summary
This piece is more or less the possibility of a monetary brotherhood. Not about the euro but rather this time its the Arabs. The GCC states that includes, Bahrain, Yemen, Saudi Arabia Qatar and UAE and Oman, advent together on the basis of nationality, religion, culture and monetary issues. In this paper there have been discussions regarding different factors upon which the monetary unification and the birth of a new currency comes to life.
Following the fashion of Euro itself, different factors such as the pretension rates, exchange rates, trade etc have been observed closely over the past disco biscuit or a few years. This has been done to see whether the results and the coincidence of the results with that of the euro everyow the unification of a new currency among the GCC states.
The purpose to launch the new currency was January 1st 2010. But that day of the month has long gone. Although the above mentioned factors are in favoring terms of the GCC states, but there is still a long way to go to grasp such a herculean feat. Europeans themselves did not achieve it in one night. The GCC states still needs to control the inflation rates in their economy. Other economic factors such as trade has been in good terms for all the GCC states and all the states have been doing pretty well if conversed in terms of US dollars.
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