Ever closer

摘要

The euro crisis has put most people off currency unions. But not in Africa, it seems. In November the leaders of five countries of the East African Community (eac) agreed to form a monetary union within ten years. A month before West African politicians agreed on a plan to introduce a new shared currency, the eco, over the next few years. It should eventually subsume West Africa's existing currency bloc-but not its central African cousin. Under the proposal an initial group of six countries will adopt the eco by 2015 (see map on next page).