Gulf monetary union is a cracking project?
"GCC leaders did not officially approve the euro-style convergence targets which central bank governors had agreed upon amongst themselves. Nor was any decision reached on the mandate for, or location of, a GCC central bank."
"Oman is perfectly justified in not wanting to join an ill-prepared monetary union, but instead of opting out altogether it could have set preconditions," the article says.
"Why then, has it made such a decision now?" it asks.
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