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Fundamental Flaws in the Architecture of the European Central Bank: The Possible End of the Euro Zone and its Effects to East African Community (EAC) Countries

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  • Nothando Moyo

    (Cyprus International University, Cyprus)

Abstract

European countries embarked on a European integration programme that saw the formation of the Euro, which has emerged as a major currency (Blair, 1999) that was introduced in 1998. With the Euro, came the establishment of the European Central Bank. Thus this study seeks to investigate the flaws in the formation of the European Central Bank that surfaced during the major economic crisis in Europe. The crisis revealing the gaps in the formation and structure of the European central bank have created major challenges for the Economic and Monetary Union (EMU). Through an extant review of literature the study will examine the East African Community Countries, investigating the ties they have to the euro zone to analyse how the crisis has affected them. Furthermore, the study will analyse what would happen to the growth patterns of the East African Countries and the various prospects they may have should the Eurozone come to an end.

Suggested Citation

  • Nothando Moyo, 2014. "Fundamental Flaws in the Architecture of the European Central Bank: The Possible End of the Euro Zone and its Effects to East African Community (EAC) Countries," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 2(2), pages 21-33.
    • Handle: RePEc:ejn:ejefjr:v:2:y:2014:i:2:p:21-33
    DOI: 10.15604/ejef.2014.02.02.002
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    References listed on IDEAS

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