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| Arabia |
| Gulf petro-powers to launch currency in latest threat to dollar hegemony |
| 2009-12-15 |
| The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate. |
| Posted by:tipper |
| #8 They should have done this long ago, as well as form a NATO type 'defensive' alliance so that they don't need to be defended by infidels. The fact that they didn't says a lot about how much they must dislike each other in the Arab world. |
| Posted by: rjschwarz 2009-12-15 19:19 |
| #7 PAKISTANI DEFENCE FORUM > ARAB STATES FORM JOINT REGIONAL SECURITY FORCE [oppose any attack agz Iran]. |
| Posted by: JosephMendiola 2009-12-15 18:38 |
| #6 Nobody has been minding the store in Washington. They are preoccupied with "impotent" stuff like global warming [and hot air]. I'm sure the Arab state share these concerns also. |
| Posted by: JohnQC 2009-12-15 17:29 |
| #5 Sorry. The initial Dollar:Euro exchange rate was $1.18:€1. I looked it up. |
| Posted by: ed 2009-12-15 16:06 |
| #4 Pan-Arab initiatives have been such a roaring success in the past. How can it fail? To be fair the UAE has survived reasonably well, but this is due to it being surrounded by Iran, Saddam's Iraq and SA. |
| Posted by: phil_b 2009-12-15 16:00 |
| #3 The initial Dollar:Euro exchange rate was $1.17:€1. Today it is $1.45:€1. I'd say the Europeans are doing a hell of a lot better job looking after their economy than the Americans. |
| Posted by: ed 2009-12-15 15:57 |
| #2 Backed by the Emir of Dubai, no doubt. |
| Posted by: Mitch H. 2009-12-15 15:53 |
| #1 Modelled on the euro ... there's a recipe for success. |
| Posted by: Steve White 2009-12-15 15:39 |