The paper elaborates on the appropriateness of a potentially enlarged Common Monetary Area in Southern Africa including Botswana and Mozambique. The theory of optimum currency areas including some extensions by accounting for costs of non-integration and considering the external relations of...

Improved living conditions in Africa would lessen migratory pressure on Europe. The scope of Germany‘s "Marshall Plan with Africa" is too narrow; progress can only be made if Europe works together. A financial system that reaches as many people as possible could be one key to future...