Middle East Economic Survey

VOL. LII

No 25

22-Jun-2009

UAE/GCC

UAE Should Rejoin The GCC Monetary Union

By Shawkat Hammoudeh

Dr Hammoudeh is Professor of Economics and International Business at Drexel University. He can be reached at hammousm@drexel.edu.

The Gulf Cooperation Council (GCC) is about 28 years old. It was established in 1981 in response to perceived increasing political risks in the Gulf region in the aftermath of the 1979 Iranian revolution and the 1981 Iraq-Iran war. Therefore, the...