EAC should slow down on push for single currency

Editor, I don’t know the political motives behind this quick move to have one currency, but adding to what many have already aired out, it is still too early for the East African Community (EAC) to have a single currency due to many reasons.

Tuesday, September 25, 2012

Editor,I don’t know the political motives behind this quick move to have one currency, but adding to what many have already aired out, it is still too early for the East African Community (EAC) to have a single currency due to many reasons.

Let’s take a simple example where some of member states have even failed to agree on the implementation of some EAC protocols. My advice is, let’s wait as we try to learn from the Euro zone crisis. Thank you.Gerald, School of Finance and Banking---------------------------------------Editor,They say a wise man (or woman) learns from their mistakes. But an even wiser one learns from others’ mistakes. Caution please; slow down and analyse fully why the Euro is on what may eventually become its death-bed before jumping into an extremely costly adventure that could, once again, deal a death blow to the second East African Community (EAC) experiment.Mwene Kalinda(Reactions the story "Is EAC ready for a single currency” – The New Times, September 25)