submitted almost 7 years ago by lexacon
- ECOWAS, a group of West African countries, has agreed to launch a single currency called Eco by 2020.
- This decision was made during a meeting in Abuja, Nigeria, and is seen as a significant step despite some risks, as it would be a strong political symbol for the region.
This could be good for the western African region in the long run. Trade processes between countries would improve as uniform currency makes it easy for investors and business people to conduct business with relative peace of mind. However, this could be the beginning of the one continent currency plan and subsequently joining a one world currency. My mum used to say once the world gets there, then we should know the end of days has come..One currency under one world rule.
One single currency for West Africa! I admit, I didn't see this one coming. To be fair, I don't know if this is progress or imitation of Europe. But like the article hinted on, it really does seem like a fat gamble. I'd wait and see where this is headed. Personaly, I would like to know how this looks for the Nigerian economy.
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