The single currency is a catch 22 situation.

It will be beneficial to the GCC states; but with most of the states pegged to the USD, if status quo is maintained, the positive impact will be minimal, but if they de-peg completely, will erode the huge reserves/investments in USD, USD assets, what about petro-dollar?

I watching with keen interest, this is a great case study.

rgds,

J.J