GCC summit reveals lack of unity on economic policy

Given the political turmoil in the Arab world and growing concerns of a conflict with Iran, it is unsurprising that politics took centre stage at the Gulf Cooperation Council’s (GCC) 32nd Summit this week. A number of previously announced economic integration plans – namely the customs union and a single currency – were barely mentioned in the Summit’s closing statement. For now at least, these plans appear to have been shelved.