RUSI NewsbriefVOLUME 35ISSUE 5members only

Lessons from the Greek Debt Crisis for Gulf Monetary Union

Far from an ideal blueprint for success, the Eurozone and its current woes could be instructive for the GCC in its pursuit of monetary union

The countries of the Gulf Cooperation Council (GCC) – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – have drawn inspiration from the European project for their own integration plans since 1981. Generally speaking, the example set has been positive: the EU’s architects have deftly convinced countries embroiled in deep-seated conflicts to set aside their political differences in the pursuit of economic gains, most notably those associated with the

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