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Nairaland Forum / Nairaland / General / Business / Breaking: Eco Will Be Pegged To Euro. Routers News. (1109 Views)
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Breaking: Eco Will Be Pegged To Euro. Routers News. by golddust6000(m): 6:12pm On Dec 24, 2019 |
ABIDJAN (Reuters) - West Africa's monetary union has agreed with France to rename its CFA franc the Eco and cut some of the financial links with Paris that have underpinned the region's common currency since its creation soon World War Two. Under the deal, the Eco will remain pegged to the euro but the African countries in the bloc won't have to keep 50% of their reserves in the French Treasury and there will no longer be a French representative on the currency union's board. Critics of the CFA have long seen it as a relic from colonial times while proponents of the currency say it has provided financial stability in a sometimes turbulent region. "This is a historic day for West Africa," Ivory Coast's President Alassane Ouattara said during a news conference with French President Emmanuel Macron in the country's main city Abidjan. "Yes, it's the end of certain relics of the past. Yes it's progress ... I do not want influence through guardianship, I do not want influence through intrusion. That's not the century that's being built today," said Macron. https://www.reuters.com/article/us-ivorycoast-france-macron/west-africa-renames-cfa-franc-but-keeps-it-pegged-to-euro-idUSKBN1YP0JR |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by sammyj: 6:14pm On Dec 24, 2019 |
This is the joke of the century. What economic rationale will make the Europe give out the value of their currency to lazy Africans with extremely slow economy that depends on the Western world!! |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by Nobody: 6:15pm On Dec 24, 2019 |
Haha if you know what pegging really is |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by golddust6000(m): 6:20pm On Dec 24, 2019 |
sammyj:you mean it’s good for West Africans? |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by sammyj: 6:31pm On Dec 24, 2019 |
How if we depend on the Western world for Technology, Healthy and Agriculture golddust6000: |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by alfasexy: 6:33pm On Dec 24, 2019 |
Okpa042: Seriouly, Africa has been getting pegged by Europa since time immemorial. 1 Like |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by golddust6000(m): 7:05pm On Dec 24, 2019 |
sammyj:which agriculture you are talking about? |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by sammyj: 7:09pm On Dec 24, 2019 |
Don’t you import agriculture products and equipment from the western world golddust6000: |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by golddust6000(m): 7:22pm On Dec 24, 2019 |
sammyj:guy now I know you are not even current! No European agricultural product is in Nigeria. 1 Like |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by sammyj: 7:43pm On Dec 24, 2019 |
Habal what about the tractors and imported products sold in the market shipped via Benin republic? golddust6000: |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by jeph19(m): 7:54pm On Dec 24, 2019 |
sammyj:Agricultural product and agricultural implement / machineries are two different things |
Re: Breaking: Eco Will Be Pegged To Euro. Routers News. by golddust6000(m): 8:36pm On Dec 24, 2019 |
sammyj:list one imported European product you know So goods coming in illegally is not relying on it?? Guy wake up. We produce tractors here in commercial quantities. |
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