"Certainly, the Euro debt crisis is sending conflicting signals and causing serious reflection on the future of monetary unions, at a time when a number of regional economic groupings in Africa are contemplating establishing their own monetary unions." Using the various approaches to the theory of optimal currency areas, discuss whether such concerns are justified.

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The theory of optimal currency areas OCAs provides a framework for evaluating whether a group of countries is suitable for sharing a common currency L... View the full answer