PDA

View Full Version : GCC This is a non issue for us RV watchers



mikeC
12-15-2009, 10:44 AM
GCC may take years to coin unified Gulf currency This is a non issue for us RV watchers KUWAIT CITY, Dec. 15 Iraq

Although moved closer toward a euro-style single currency, it may take the oil-exporters years to coordinate and negotiate their stance and monetary policies for that end.
Founded in 1981, the GCC groups Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).

http://news.xinhuanet.com/english/2009-12/15/content_12652837.htm

chazon
12-15-2009, 11:01 AM
I agree, actually it seems pretty clear to me that while there is little doubt Iraq will one day be a part of the Gulf Currency that they would still have to revalue and show stability for that to happen anyway. Just like with the Euro, countries have an option of joining at a different time. What's more is that when that time does come, the Dinar will be tradable for Gulf currency at its RV'd stable rate for a period of time. Sometimes it seems too incredible to be true, but there is no way this currency doesn't RV at some point. IMO.

tdurden
12-15-2009, 11:21 AM
This shouldnt be in chat archives because its not a chat. However we should watch what the GCC does because it is important to the RV. But do not worry about the common currency it will be several years off.

http://articlesofinterest-kelley.blogspot.com/2009/12/gcc-ministers-reached-agreement-to.html