Europe's sick 'PIGS' may dampen EAC's monetary union hopes

The European chapter of the global financial crisis was most felt in Portugal, Ireland, Greece and Spain and as the economies of these countries teetered on the brink of collapse, the financial press came up with an abbreviation for the four countries-‘PIGS’.
Currencies of different countries in the region. East African countries have been warned against a single currency after the Greek crisis. (Timothy Kisambira)
Currencies of different countries in the region. East African countries have been warned against a single currency after the Greek crisis. (Timothy Kisambira)
Kenneth Agutamba