Friends, 
Then the rumours here in Denmark was right. Remember that I wrote a comment
on this 20.th january this year.
When I returned from The Gambia to Denmark last year november one of my
friends told me about the plans and how EU maybe would give countries in
that zone priority to EU-markets. I have no further comment, because I´m not
familiar with the budget of The Gambia, and how social welfare, trade,
foreign debts are like.

Denmark has decided to stand outside the Euro, but our DKr. is close
connected to the currency. The danes fear that EU through it´s
finance-policies to keep the Euro up will dictate us what to do f.in. on
social politics (our welfare, employment etc) if we join the Euro, because
the different countries have to handle its policy in a way that it will not
threat the Euro. It is one for all and all for one- so to say. And if one
country fails in it´s policies it can drag the others into crises. But it is
also expected that the others are backing up, if one of the members face
problems. Right now I understand that Germany face problems and got to
handle the interior problems with care to keep the rules and regulations for
the Euro.

Regards from Asbjørn Nordam


30/03/02 15:01, Jungle Sunrise at [log in to unmask] wrote:

Should The Gambia Join a Common West African Monetary Union or Not?

Folks, 



The following is a press release that has been doing the rounds in some of
the local papers these past days. The reason I am forwarding it is for those
who are experts or are conversant with monetary policies or common currency
issues to give their opinions about it. The issue of a common West African
Currency, slated for 2003, has been the subject of much discussion in
certain quarters. There are some who are very enthusiastic about it and how
it would help ease the pressure on the demand for foreign (European and US)
currencies and help integrate our economies. These people would ask why some
neighbouring countries which sometimes share borders cannot trade using
their own currencies instead of say the US Dollar. Others who are skeptical
of a Common West African Currency on the other hand would argue that
Gambia’s Dalasi is very strong and should not be sacrificed for a common
currency. Some of them would tell you that it would be suicidal for The
Gambia to join a common currency especially when one considers the turmoil
in countries like Nigeria, Liberia, Sierra Leone and until recently Ghana.

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