Economics, Econometrics and Finance
5 years ago

Lessons from Euro Zone Crises: Re-evaluating Currency Union Projects in Africa

WORLD SCIENTIFIC eBooks
The Euro at 20: Lessons for Africa
Paul R. Masson

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The Euro zone crises show that African currency union projects need re-evaluation. The EU experience teaches Africa three main lessons: 1) Regional integration is a process, not just a straight path to monetary union. 2) The criteria for a sustainable monetary union go beyond the OCA and Maastricht criteria. 3) Successful monetary unions need strong regional solidarity and common policymaking approaches.