Gulf states face inflation threat to single currency

High and increasingly divergent levels of inflation among Gulf Co-operation Council states look set to derail the region's goal of European Union-style monetary union by 2010. Previously, central bankers in the region have only privately acknowledged the likelihood that the 2010 deadline will be missed; however they are increasingly willing to acknowledge this publicly as costs of living in the region spiral.

Recent comments from United Arab Emirates central bank governor Sultan bin Nasser Al Suw

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