ECB to advise GCC states

The European Central Bank will advise Gulf states on their plans for possible monetary union a spokesman for the ECB was quoted by AFX as saying on Tuesday 18 April.

According to the report, both sides will shortly sign a memorandum of understanding on the matter.

"The memorandum of understanding will be signed in the coming weeks," the spokesman said, confirming a corresponding report in the Financial Times, AFX said.

The six member states of the Gulf Cooperation Council (GCC) -- Bahrain, Kuwai

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