I do not intend to deliver a broad based assessment of economic developments in the Arab economies but rather as an economist I will stick to the principle of comparative advantage and as a central banker I will concentrate on the issue of monetary integration.
It is an issue that plays an important role in the current policy agenda in many countries on the Arab peninsula. And it is an issue where I can draw on our own European experiences to exemplify the terms on which a European-Arab dialogue can be established.