Mboweni says SADC can learn from EU

South African Reserve Bank governor Tito Mboweni has said much can be learned from the European Union as the South African Development Community (SADC) attempts to create a single monetary union for the region by 2016.

Speaking in Johannesburg on Tuesday 12 July , Mboweni said the recent experiences of the EU demonstrated that it was necessary to be strict about macroeconomic convergence criteria, which had to be written into a legally binding contract for member nations.

He also emphasised th