How ready is Ecowas for 'Eco' currency? [Morning Call]

The Economic community of west african states ECOWAS recently adopted a single currency named Eco, which it plans to launch by 2020. The plan for the currency had been discussed for nearly thirty years.

The Eco single currency between the 15 countries that make up the ECOWAS – eight of which use the CFA franc, which is pegged to the euro according to a fixed parity guaranteed by France, – is seen as a gamble by many analysts, but also as a strong political symbol.

So, how ready is the regional bloc for the currency this time?