East Africa bloc signs deal to form single currency.

The problems of the euro notwithstanding, the leaders of Kenya, Tanzania, Uganda, Rwanda and Burundi have signed a protocol to establish a monetary union within 10 years. The countries, which make up the East African Community (EAC), have already established a common market and a single customs union. With EAC members holding oil and gas reserves, one hope is that the union will help attract the foreign investment needed to develop those resources.