Kuwaiti Foreign Minister Sheikh Mohammad Al-Sabah said the eurozone crisis had convinced Gulf states to “pause” for reflection in their push toward a monetary union. He further opined that it would be “irresponsible” for the Gulf Cooperation Council (GCC) to push ahead without studying the implications of the problems in Europe. “There are a lot of lessons, (so) that we should pause,” he said. The decision to ease the push toward a regional single currency was taken at the Jeddah meeting and this comment by a top Gulf official may be an attempt to apply brakes in the path of a monetary union.
PAUSE GULF MONETARY UNION
PAUSE GULF MONETARY UNION
