Kuwait, Euro central bank chiefs stress GCC role in global financial stability.
European Central Bank President Jean-Claude Trichet and Governor of
the Kuwait Central Bank and Head of the GCC Central Banks Committee
Sheikh Salem Al-Abdulaziz Al-Sabah both stressed on Wednesday the role
of Arab Gulf states in attaining global economic growth and financial
stability.The two officials at the end of a European-GCC forum on
central banks in both regions, also regarded an eventual united Gulf
currency as a positive step towards this.Trichet said that the
conference hosted by the Italian Central Bank, was an important one to
discuss means for global financial stability, as it was attended by the
Governor of the Italian Central Bank and Chairman of the Financial
Stability Board Mario Draghi and preceded the G20 Summit.For his part,
Sheikh Salem commended the length of European-GCC cooperation which
resulted from the forum. He said the forum allowed the exchange of views
and the learning of lessons from the financial downturn which would be
utilized in the sake of enhancing financial stability.
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