Eurozone is Struggling While East Africa Insists on its Monetary Union - Page 2
The road is still an uphill struggle, since the region is expected to grow at an average rate of about 8.5 percent per year for the rest of the decade, about two percentage points faster than the last five years, if it wants to achieve the objectives of growth and stability. Financial stability and the existence of a market-based pricing mechanisms, openness to international trade and the reliability of economic institutions have been repeatedly identified as key ingredients for sustained growth. Despite the controversy, the heads of state in the region have strongly argued that monetary union should be operational by the end of 2012, and instructed the experts and technicians to complete negotiations.
After being an example and reference to this strong growth, now it is time for us 'old colonial' take from them the courage and the desire to strengthen our monetary union, the Euro.