The central banks of the GCC, individually and collectively, are giving due attention to the issue of inflation and several new measures, such as rent caps and credit controls on banks, have been announced to support long-standing programmes of food subsidies and government housing for nationals.
However, such observers vastly underestimate the political capital invested in the euro by our leaders, as well as the political significance that such an investment has for the future of Europe. Of course, much work remains to be done for economic policy-makers across Europe.