Perspectives on the European Monetary Union: lessons for the Economic Community of West African States (ECOWAS)

Abstract

The attainment of the European Monetary Union under the auspices of the European union was a product of effective planning and sequencing of programmes. The EU experience had significant integration implications for currency, money market, capital market, foreign exchange market, reserves management and economic policy. It also had implication for non-EMU members referred to as the Economic Community of West African States (ECOWAS) in its drive to provide the needed political will, social enlightenment campaign and mobilization for the acceptance of integration.