Analysts are calling it de-euro-isation and it's happening, even if only for now as a temporary defence mechanism.

BBC: Euro talks: The last signal before the storm?

The move could herald a creeping euro-isation of parts of the UK economy, and threatens UK jobs as British suppliers could be forced to source raw materials and components from the eurozone, where they are cheaper.

BBC: Toyota tells UK suppliers to use euro

The BBC's Roger Hardy says Crown Prince Abdullah's decision is likely to be welcomed by ordinary Saudis - who over the years have come to see "Saudi-isation of labour" as more of a slogan than a reality.

BBC: Saudi ban on foreign cabbies