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ZEI Discussion Paper C 206/2011

Chibuike Uche: The European Union and Monetary Integration in West Africa

ZEI Discussion Paper C 206/2011


This ZEI Discussion Paper shows how developments in Europe have been the most important variable in the monetary integration process in West Africa. It argues that the changing political landscape in Europe has altered the nature of incentives behind the interest of foreign stakeholders in the West African region. This in itself creates new opportunities for a region‐wide monetary integration program in West Africa. The ZEI Discussion Paper argues that the above objective can best be attained through the gradual expansion of the membership of the West African Economic and Monetary Union (WAEMU) in order to absorb members of the Second Monetary Zone which has been on the drawing board for over a decade now. The ZEI Discussion Paper also makes a case for the European Union to support the above scheme.

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