ECB advice sought by Gulf Arab states

A senior official at the GCC said on Thursday 15 September that Gulf Arab states will seek help from the European Central Bank in establishing a monetary authority to oversee their planned single currency.

"We want to benefit from the European experience," said Mohammad Mazrooei, Assistant Secretary-General for Economic Affairs at the Gulf Cooperation Council, grouping Saudi Arabia, Oman, Bahrain, Qatar, Kuwait and the United Arab Emirates.

"We have been directed to contact the ECB and then th