yhemster: I have few questions
1. Is there going to be free trade agreement across the region?
2. Are we going to have a single monetary policy across the region?
3. what is the security of the new money, is backed with gold, oil or empty air?

Am open to ur opinions.

CFCfan:

That's a valid point. The likes of Greece, Spain et al, have been experiencing economic austerity due to the fact that those countries don't print the Euro. Instead, it's printed by the European Central Bank. WAMI could mandate it's member countries to print the ECOWAS currency themselves, instead of depending on a single ECOWAS Central Bank.

shaneroberts26: Dead On Arrival

CFCfan:

The ECOWAS treaty would have to be enforced in order to guarantee that those same trade barriers are minimised. For instance, ECOWAS passport holders may not need a visa to visit another ECOWAS country, if they are visiting for, say, 3 or 4 months.

kingjohnny: This is a good step to bring people of this sub region together.300 million people a great market for industries here

ekt_bear:


no be by force to post

tumababa: IS DAT WHAT THEY LEARNT FROM THE EURO?

Wuked.P:
and no be by force to use ur leprocy finger dey quote Babialah..

N_girl: Personally, I don't think this will happen.

The ECO: a common currency phantasm or certainty?

The initial date set for the introduction of the ‘ECO’ was January 2003. However, the implementation suffered a pitfall when by November 2002 it became apparent that the participating countries would not be able to achieve the convergence criteria.

The date was subsequently postponed to July 2005, as it was expected that that would give the countries adequate time to meet the criteria. But, again, this did not happen because the countries failed to meet the target.

It was then decided that, perhaps, the process should be postponed for a longer period to enable the countries make more preparations.

December 2009 was therefore settled upon with the hope that the participating countries will properly gird their loins for the new currency. But, as it turned out, the deadline did not become feasible, and now the new date is 2015.

For some analysts, it remains to be seen whether the proverbial ‘old lady’ would finally shove off her ‘stick’ in 2015 or there would be another postponement to perhaps, 2020.

chris365: Another African copy cat project doomed to fail. Even Europe that has a far more powerful economy tthan our are not finding it easy to cope with such policy.

West Africa first of all needs to focus on building strong economy: like industrialisation, independence from foreign aid (expecially in their budgets, which is one of the major eyesore in development)


Properly implement the ECOWAS integration policy which still has a lot of loop holes.

ensure security in the region (which is greatly lacking) etc...
And this might end up being a burden on Nigeria as Germany is feeling the brunt of the european monetery policy failure (being the power house of the region)

our leaders don't learn. They just wake up, drink sepe and open dia dirty mouths to announce rubbsh.
Well, then again African leaders are senseless and stvpid

Wuked.P:
;End time things.......

Ajasnoop: Europe is not having the best of times with the single currency. West Africa wants to start. #whatsthepoint

What are the demerits/disadvantages in having a single currency

Pls do educate me bro .

ekt_bear:

back to sender

docjuli:

Ever heard of F CFA? There is XAF (Central) and XOF (West).

HNosegbe:

The CFA Franc is underwritten by France. Completely different scenario.

Wuked.P:
mind ya biz next time ok?? Cos i no say fear don catch u, apprentice