Reply #4: This article speaks of it in dollar terms

[Rose Siding]

-but I bet it ends up as something else, especially if we continue to deal out the Saudis.

http://www.middle-east-online.com/english/oman/?id=9554

KUWAIT CITY - Gulf Arab states agreed on several key criteria Wednesday to bring their economic and fiscal policies closer together for their anticipated monetary union, Kuwait's central bank governor said.

They also reviewed the "legal and institutional" studies which would be needed to establish a central bank for the six-nation Gulf Cooperation Council (GCC), Sheikh Salem Abdulaziz al-Sabah told reporters after chairing a meeting of GCC central bank governors.

"We have approved the most key standard criteria for economic and fiscal integration ... like budget deficit, ratio of public debt to gross domestic product (GDP), inflation and interest rates and others," said Sheikh Salem.

The parametres of the criteria will be set at their next meeting, although no date has been set, he said.

The GCC, which groups the six oil monarchies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, launched on January 1, 2003, a customs union with a view to becoming a common market in 2007 and establishing a monetary union in 2005.