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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro (33011 Views)
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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 4:13pm On Dec 22, 2019 |
healthserve: i think,it will change.... many will start seeing,if china,asian nations can do it.... then africa can do it too.... we have engineers in china studying how to build trains....imagine.... a nation that people say cant even make pencils....!! nuclear plants....?? just a decade ago,it was unthinkable.... |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by CSTR2: 4:13pm On Dec 22, 2019 |
healthserve:If everywhere was like ivory coast, the British red coats would still be protecting our oil wells for Her Majesty the queen right now. Stupidity is not the same all over the continent. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:17pm On Dec 22, 2019 |
darkwan: You think we don't have innovators in Nigeria. Lol. I can pull out guys and ladies that privately will make you a car. Engine blocks, all sofmrts of machines within a month I can locate and find them. Africa doesn't propagate a system that encourages and Foster innovation Sir |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Sewgon79(m): 4:17pm On Dec 22, 2019 |
healthserve: The real truth is that, CFA is like a budden to them, so what they do is removing their hand and let alone the their colony to bear their problems themselves. Believe if they know it won't benefit them, they won't let go. Now they we enjoy the resources like no other before without any contribution. IT IS STILL SLAVERY, BUT ADVANCE ONE. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:18pm On Dec 22, 2019 |
CSTR2: We'll. Liberty isn't expressed in this decision and it doesn't make us any wiser to me. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by somtookeke(m): 4:18pm On Dec 22, 2019 |
*French President Macron endorses use of new currency ECO by Nigeria, 14 others* https://speakersden2..com/2019/12/french-president-macron-endorses-use-of.html 1 Share
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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:19pm On Dec 22, 2019 |
Sewgon79: E touch us too. Imagine routing calls through Europe if we wanna call fellow African nations. Africa has gotta wake up |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 4:20pm On Dec 22, 2019 |
AreaFada2: Oh well let's hope they're responsible. Now that France's treasury no longer backs currency they're on their own. They only have to be for a few years if the ECO currency union happens in all of ECOWAS. Then a new monetary policy will probably come out it. At least they know for better or worse they had it their way. I think its better that way. You can't blame France but some will find a way. 1 Like 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 4:21pm On Dec 22, 2019 |
healthserve: i know that.... people that have no idea how to lead,want to lead.... you have strange people,blamin buhari for fulani atttacks on farmers as if buhari is the leader of all fulanis.... its not only the leaders that are a problem,the civilians too.... |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:21pm On Dec 22, 2019 |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Sewgon79(m): 4:24pm On Dec 22, 2019 |
CSTR2: Will you believe, if I tell you that the Presidential Villa in Ivory Coast, like Aso Rock is being rented to Ivory Coast by their colonial master till today. Can you imagine make Britain they rent our Aso Rock to us by collecting Levy or rent payments every year with resources. In your own land ooo. Ivory Coast is a joke to me, they are colonial puppet put in ground to checkmate their colony. And they said they are independent with large presence of their master large military barracks and base with full tanks and war ammunition. I know Nigeria won't fall into that trap. 2 Likes |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by JubrinElSudan: 4:24pm On Dec 22, 2019 |
somtookeke:If the ECO will reduce the amount in millions of Naira one would have used to "japa" from this country, then I welcome it at least for now |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 4:27pm On Dec 22, 2019 |
and btw....france is still in unrest till today....i dont think they care about africa that much no more.... europe is changin fast.... many arabs,etiopians,indians,asians and blacks have flooded the ol place.... europe will not be the same no more.... |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by panafrican(m): 4:31pm On Dec 22, 2019 |
CSTR2: They like independence , the only issue is the country is surrounded by mercenary government who are ready to serve as hitmen on behalf of the French. If Angola , Rwanda and Zimbabwe had border with Cote d' Ivoire things would have been different since Great 2000 when Gbagbo took power. Gbagbo is today under house arrest in Belgium .it was sent there by the international. criminal court presided by a Nigerian Judge.
Gbagbo was arrested by French troops on April 11 , 2011 . They turned him over to Ouattara rebels whom in turned kept him in custody until November 2011 before the French gave the green to send him to the Hague in the Netherlands. where he was imprisoned for more than 7 years. When ivorian Patriots were fighting the French forces from 2002 to 2011 , how many West African countries sent in troops to help them? None . Jonathan Goodluck secretly sent troops to support French backed rebels.So did Burkina Faso, where Ouattara is originally from. Togo , Mali, Senegal ,Liberia, Sierra Leone all saw an opportunity to build close relations with France. They all rushed in to fight governmental forces. The UN and the A.U all stepped in to back France. The UN imposed arm embargo on Gbagbo government forces whilst France was pouring heavy and sophisticated weapons into rebels controlled zones in Northern Cote d' Ivoire. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Sewgon79(m): 4:38pm On Dec 22, 2019 |
CSTR2: I taught I am the only person that see it. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Oldmillionaire: 4:45pm On Dec 22, 2019 |
healthserve: My friend shut up, even your first comment is just a combination of nonsenses. What are you even talking about? Do you even have any slight knowledge of economics? And you can't even make any reasonable point just write up B's to fill good among dummies like you and attack reasonable opinions, you're the amateurish one here as long as I can see. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:46pm On Dec 22, 2019 |
Oldmillionaire: Says the one who only stringed a bunch of insults on a purely academical thread. No wonder you're an old forgotten millionaire. Dufos |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by panpan(m): 4:52pm On Dec 22, 2019 |
This appears to be a subtle way by France to frustrate an independent joint West African currency. France and Ivory Coast have cunningly changed the name "CFA" to "Eco", with currency links to France, but without the input of non-CFA West African countries. What this means is that CFA countries in West Africa will now say that they have adopted the Eco, and it is left for non-CFA countries to join the now France-backed Eco or stay on their own. 8 Likes |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 4:53pm On Dec 22, 2019 |
Africa and its penchant for servitude. The curse of Noah still waxes strong |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Horus(m): 5:00pm On Dec 22, 2019 |
https://www.youtube.com/watch?v=rFq9LhsMmtE Dr Arikana Chihombori Quao: Continued Colonization in Africa by France 2 Likes 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by BabaRamota1980: 5:22pm On Dec 22, 2019 |
itsene: If France supported Biafra for secession it would have happened, or at the minimum Biafra would have been put under UN supervision as a mandate. France needed to sell weapon and also prevent the struggle from spreading into Cameroon and create a problem for its control in that country. Their support of Biafra was selfish, they sabotaged the secession struggle. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by BabaRamota1980: 5:23pm On Dec 22, 2019 |
panpan: Very true! |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 5:42pm On Dec 22, 2019 |
panpan: BabaRamota1980: ibietela2: France doesn't care. The CFA board has always opperated without non CFA countries input. The official ECOWAS monetary union cant be done anyway because only Benin Republic meets requirements. Nigeria's finance minister made this known weeks ago. Lol the French boogieman isn't holding you back. Tell Nigeria to gets it's fiscal house in order then lead the charge. According to Ahmed, the 2020 implementation deadline set for the adoption of single currency by ECOWAS member states is constrained by the continuing macroeconomic vulnerabilities in the respective economies. The four primary criteria to be achieved by each member country are: a single-digit inflation rate at the end of each year; a fiscal deficit of no more than four per cent of the Gross Domestic Product (GDP); a central bank deficit-financing of no more than 10 per cent of the previous year's tax revenue, and gross external reserves that can give import cover for a minimum of three months. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by BabaRamota1980: 5:46pm On Dec 22, 2019 |
Xisnin: France was, and still is, agaibst secession. I go back to my earlier statement, if Southern Cameroon or Biafra seceedes, it would create a chain reaction in many West African countries and destabilize France and the French language and its commercial brands. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by urahara(m): 5:48pm On Dec 22, 2019 |
panpan: Was it France that forced the to still leave the currency pegged to the Euro ? It's just like saying because China pegs the Yuan to the dollar therefore u.s is manipulating China . Lool 2 Likes 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Bar1941(m): 5:48pm On Dec 22, 2019 |
healthserve: Weighing the IQs of both of you using this topic as a reference point, it's obvious you are the one with the very low IQ. LEARN HOW TO ENGAGE IN CONSTRUCTIVE AND INTELECTUAL ARGUMENTS SMALL BOY. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 5:49pm On Dec 22, 2019 |
Bar1941: Yawns. Get lost. I'm done with the thread |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Nobody: 5:50pm On Dec 22, 2019 |
healthserve: they have to keep it pegged it to the EURO because the combined cfa-bloc are yet to establish their own central bank which is not something you can do overnight. the economies have different peculiarities, weaknesses & strengths. if you ask me there is no need for this radical change, they should've simply renegotiated the terms of their economic engagement with france. black africans are not ready for this single-currency thing because there is still a lot wrong with our people in terms of ethical orientation, life-philosophy, etc. we lack the required institutions still. even the europeans are having a a tough time keeping the EU afloat and take a look at the time-distance between their civilization and ours, three hundred years at the least... Nigeria is the biggest beneficiary of this foolish move executed by francophone Africa, but only if our leaders understand how to profit from the new economic regime. France will definitely withdraw military subsidies enjoyed by those countries, they now have to pay out of pocket (which they can barely afford) or go without the enormous clout they had when France underwrote their political/military adventurism in the subcontinent (the Bakassi fiasco comes to mind) |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by ajl: 5:54pm On Dec 22, 2019 |
Why confuse ECO with what these francophone countries are doing with their CFA franc. They are two different things. Eco is for the entire subregion including Nigeria. Except if you argue that it is prelude prior to launch of ECO. Introducing ECO is the only way France can't challenge this because they know that ECO currency include Nigeria which they have no control over. Now you understand why France has been sponsoring Boko Haram to help breakup Nigeria, as well as supporting Biafra in the civil war. A weaker or smaller Nigeria mean total domination of West Africa by France. So, when we agitate for breakup of Nigeria we need to understand global politics as well. The entire subregion and the whole of Africa will be doomed. 1 Like |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Yujin(m): 6:02pm On Dec 22, 2019 |
JubrinElSudan:Same thought here. Lol. They know that there won't be any ecowas currency simply because Nigeria is involved. This their currency holds more future than any one intended with Nigeria. Well, it's a welcome development. I only hope they can maintain it and don't have to fall back to France again in the future. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Yujin(m): 6:06pm On Dec 22, 2019 |
ajl:You're getting it wrong. This is entirely different from the one intended by the whole ecowas member state of which Nigeria is involved. This Eco is only for the CFA West African countries. Nigeria has no say here. |
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