CFA franc to be replaced by the ‘eco’ but will stay pegged to euro
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- Опубликовано: 21 дек 2019
- On a visit to Ivory Coast, French President Emmanuel Macron and Ivorian President Alassane Ouattara on Saturday announced an overhaul of the CFA franc, a currency used by eight states in West and Central Africa, most of them former French colonies.
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Nonsense! Nonsense! We don't want anything to do with Europeans financially. We want total independence, total independence.
Total independence. This deal is not good enough for Africa
We will not be total independence in Africa unless we get rid of the germans in Namibia, as long as they are still there controlling the vast of the land in Namibia believe me we cannot claim to be independent.
@@leonardorjioffor6683
How many German in Namibia? You don't how to solve that issue?
@@zeonpily9981 how do we solve it please?
@@leonardorjioffor6683
Like the rest of the world. We need to establish our own collective monetary systems base on our resources. With the proper government in place, we can start refining our resources and selling the finishing products to the rest of the world. We can achieve all of this, it's really simple. But the issues with Africa and it's leadership is that they don't know what they want, and they don't have a well established policies towards the rest of the world.
Hell no don't stay pegged to France. Cut all ties to France. Get them out monetarily and physically.
France think they are smart. That name ECO was created by all the ECOWAS region in West Africa. So why French West African States has taken the name to represent their new currency without approval from other members States.
@TheSushiraw built what in common exactly
If they know what’s good for them “
kweku agyin we going to keep an 👁 on the developments if we smell a rat we going to call it what it is bullshit “
@TheSushiraw it's already been cut by BRICS. The only thing will be left of France in Africa is language.
France must leave Africa Alone, they have stolen too much without conscience,and Eco should not be pegged be pegged to Euro. That would be be abig mistake,to continue dealing with their enemies.
😔😔
Yes why are they insisting on staying in Africa. If the CFA helped why are we still poor then? Honestly!
Thank you. Enough is enough.
France is Nazi Germany, but unscrutinised because of their alliance with America
AFRICANS NEED TO FIGHT
We as African especially youth. we should never ever forget what France has done to Africans. Revenge is necessary on France and its government . It hurts me so much when I see how France still colonize west Africa countries after long bad history of slavery, still this colonizer find place in west Africa countries .😭😭
Don't worry my brother... One day we shall crush our oppresors!
France will burn for this one day
These leaders are the biggest cowered ave ever come across.
How do you think that those leaders are cowerd? Remember the French government assassinate any leaders that Try to change that currency.
@@Kingsspeaks a man should be ready to die for he's freedom and justices.
Darren Ahenk facts !!!
Like the president of Mali, saying we need more allies to fight terrorists. Who created the terrorists?
tony dougan ask me
500 hundreds billion dollars a year ! For 70 year's , imagine your self??
35 trillion dollars that would have developed and fed 3-4 generations of the respective populations extorted from. Instead of being transferred to French treasury to make wealthy Frenchmen wealthier.
@TheSushiraw Info has been available since the franc was converted to Euros.
@@BonsuBigWhale thank you so much for info!!
And I agree with you 💯
@@MenteLiberta1980 Unfortunately France is still showing that it refuses to let go. Only 8 states have signaled that they will pull their reserves and the pending ECO is seen more as a statement of political emancipation as opposed to economic.
If it is in anyway dependent on France or EU instead of backed by Afrikan natural resource then it is a failure before implementation.
Pegged? Someone should give our leaders dictionary. Maybe they don't know what they are signing for.
Ghana and Nigeria must rise up to stop this nonsense!!!!
@Osato H Nigerian economy is control by US financial system, same with many African countries, in another word Africa was trap by Western financial systems when African left their monetary systems and embraced the paperback money.
No country is safe on Africa until Africa agree to form their banking system.
Watching the Hawks where u from? Guess those thin struggling countries ,..
Could someone from Africa , STAND UP and help this west African countries to GET OUT OF FRANCE and EURO...???
Nigeria is out. At the ECOWAS meeting, Nigeria did not approve the Eco currency because some African countries have not met the financial conditions required.
I think they should also change the language,all African country shouldnt speak any colonial language. Aftica country they should look for their own language,stop with french portugees,english or any other language which is not belong to Africa. Because as long as we use this languages in our country still we are not free we are still colonised.
Swaleh Mwidau I keep saying that over and over again. The languages have us colonized. Keeping those who speak the languages tied to their colonizers.
Swaleh mwidau u are very stupid like the colonial basta
@@justiceminister4024 What do u mean sir,this is my opinion,why are we calling each other where is the word stupid comming from,if u disagree with my ipinion say so and give me yours instead of abusing someone,that is not what your nother tout you is she? If you want to use a colonial language be my guest,be stay a slave forever if that what you want,you can also bleach yourself and be one of them,God give us a choises so choise is yours minister who......
Teaching teachers to teach past languages to children will take time and lose touch with the other world. French should be out tho. One African currency is a good idea the next would be one African passport and one army
100% correct I support your suggestion
Why can't Africa can just do their own thing independently???
Now you need to pay not only france but also European union.
Busy for nothing
East Africans have been doing their own thing since independence, this is a West African issue...
@@neilnelson7603 its not all about which corner of Africa, we all need to come together, that is the only way we can become powerful
@@royaldiadem8660 ...true, we have tried but African leaders being paid billions of dollars in form of aid constantly get in the way....just look at the African Union, its difficult to get things done because of foreign interference.
@@royaldiadem8660 The ECO was presented as an opportunity to come together. But given French involvement it appears more like the "getting together" was nothing more tan a corralling of Afrikans for subjugation. Instead of the francophone neo-colonies being uplifted and liberated it makes the exercise a sham designed to rather add the remaining ECOWAS states to French Colonial Tax scheme. A pull down
ECO must be rejected until the citizens of the varrious effected countries have assurance that it is backed by afrikan resources and not pegged to the whims of any external entities who could control it in anyway.. Otherwise maintain status quo.
Nigeria will not join eco any more forget it, we are not French slave's like ivory Coast
Thank you my friend
NIGERIA must wake up to lead Africa development
@@sikirinews5465 Agreed, even Britain knows this and that's why they don't meddle in our affairs, except we invite them.
British learned their lesson France has yet to.
The ECO was never going to be tenable as an independent afrikan currency if France was involved in any way. It is looking more like an NWO staging scheme by the day. Europeans should ever pretend that they can survive without afrikan natural r human resources. even when asked to lose an unappreciated "burden' they will always find all manner f excuse to cling on.
No they (nigeria are slaves for uk)☺
I hope no one buys into this BS. We all know nothing drastic changed if at all
Afrika leaders seriously, France 🇫🇷 must leave Africa ASAP
This deal is not good enough for Africa. African youth do not want any pegging to Euro. We want total independence
IF France leave YOU, you WILL regret it
@@isaac.n.bi.n9259 do you want to be a slave forever?
Isaac Blessing you are a slave
This narrator sated “they said give us our own currency” hahaha my Africans when did thou became a beggar of your own land and right KMT
Imagine begging broke bastards to "give you a currency." SMH
So long as the Eco is pegged to the euro Ghana and Nigeria must NEVER join the eco. Let ghana and nija be the Switzerland and UK of ECOWAS
why did you said so. educate me based on that
@@paulobukohwoo7726 the eco is still pegged to the euro and France is still a guarantor. We need COMPLETE economic freedom from the white man and francophones are mentally and economically attached to their colonizers
Fe Ch i have no doubt that NO ONE can control Nigeria but NIJA, but i’d rather nor give anyone especially slithering france tge chance to
If any country is feared in africa to start a revolution against colonizers and imperialists ..it is Ghana ... we always start and the others follow ....
If Ghana and Nigeria join the eco, they will not allow the eco to pegged to the euro. No way.. Ghana and Nigeria will resist.
African leaders have failed its people again and again Africa needs to revise any business deals it made with Europe before the Independence and after the independence that is the most
Important anything's they can do for themselves to make they countries better and also build your own banks and your own currencies
West Africa. To be specific.
What kinda scam is this?
Can you help me out by signing this petition?
chng.it/WJJWQJkd
Get France out of Africa
Same Devil different names. As long as it's linked to Europe it's same idea. Just different actors.
Slavery is transform not abolished, only the slaves can abolish slavery.
@John Davis please explain, how.
@John Davis no arabs did and they enslaved europeons first, slavic = slave. That's where the word comes from, show me one native African language with the word slave in its origin....I will wait.
@John Davis Tell me the word for slave that any African nation used before europeons and arabs got there....Again, there is no record of that, do your home work again. arabs enslaved people first and taught it to europeons then to Africans, arabs have never really invented anything but slavery. Nothing comes out of arab/arabia/Persia....Most of the arabs in the world live in north Africa, and to this day are still pro slavery.
@John Davis show me where and who? Because you said it doesn't work for proof who and where and what time frame?
and the trap continues only this time its more hidden.
Total agreement now West Africa is depending on the European economy ! Basically Germany wins
James Murphy it’s the Francophone nation’s not west africa
Change of name, but not content.
Kevion Rogers change of content as well
The main change is the attempt to add anglophone and lusophone afrikan states to the French Colonial Tax scheme.
@juciest woman alive Ghana and Naija would never be subjugated by either a France or EU. It could only come through an actual armed conquest. If France could have made a move against either they would have done so decades ago.
Lusophone is a reference to those states such as Bissau and Cape Verde that were from Portuguese colonialism.
@juciest woman alive Lusophone is Portuguese speaking. Anglophone is English speaking.
BonsuBigWhale São Tomé and principe
France did in West Africa the Same as did the britishers in Pakistan, India and Bangladesh
@King Crusader yeah but Islamic empires are dead. Whataboutism doesn't change the fact what France is doing is wrong
West African presidents must be wise enough to reject this euro tagging issues to echo and claim their respective reserved and manage their own economy and affairs .
It is one step at a time. You do not want to radically overhaul the system in one instant because the effect is economic chaos, inflation, and social upheaval. We want change, but MANAGED change.
This is an insult to Africa and African youth. No tagging!!! Africa wants FULL independence
@lance Callender Nigeria or Ghana can't force francophone countries to do anything.
West african leaders are corrupt and will do what france says because france will guarantee their hold on power.
Did France give this idea to west Africa to come together and create one currency eco? Why did west African leaders still allowing France to have hand in eco? A very big insult to west Africans if France still have anything to do with eco! Dear leaders we know you have fail us again by allowing this we the kids today we learn a lot and we see a lot yet we are still seeing a lot cuz you the leaders are sleeping but we promise on our time of duty we will fill our place even an air won’t have a place to pass though! 😕
No France did Not give this idea to the West Africans. They did this all on their own. Sadly the leaders there are only taking these half measures. Instead of just ripping the whole band aid off. Its good in that it ends France's middleman activities, but bad in that it pegs their currency to the Euro which limits its ultimate potential. They need to have more faith in themselves.
😣😣
Lol all the leaders who have spoken in the past have been terminated 🔫 so please be our guest.
Yet another colossal mistake. We have fools in politician in office. They chose always the easy way out.
We want our reserves to stay in Africa so we can collect our billions annually on leaked dividends. We want Paul Biya gone... And a United West Africa...
We need to mobilize the people
Cameron’s is not west Africa
@@aniefiokubek687 Paul Biya being replaced is a general statement...
How the hell did Cameroon end up in central Africa
based on their location?
@@bedecn262 Cameroon is important to other countries, that is why they lack so much transparency...
There is no reform other than the name, France will still remain the guarantor of the new currency.
Pegging the ECO to Euro would lead to more corruption and instability.... what we need to do is peg our currency to our common natural and mineral resources and then develop a marshal plan and picture on what we want our environment/countries should look like.
youwill still be toppled from power by the same millitary, but at least you will start to cure
Colonel Gaddafi attempted just that with the gold dinar project, and ammassed gold reserves that ranked Libya's central bank asking the top 25 holders in the world. We've seen what NATO did illegally to Libya and to the reserves.
No way Nigeria is getting involved with that.
That's why ur not hearing anything in Nigeria about Eco anymore 🤦🏾♂️
Could someone from Africa , STAND UP and help this west African countries to GET OUT OF FRANCE and EURO...???
the Nobel prize winner Robert Mundell in 1997:
‘If a small country unilaterally fixes its currency to a larger neighbour, it in effect transfers policy sovereignty to that larger neighbour. The fixing country loses sovereignty because it no longer controls its own monetary destiny; the larger country gains sovereignty because it manages a larger currency area and gains more “clout” in the international monetary system.’
What right does France has in imposing a currency on Africa and holding half their reserves? Even Britain didn't do that post independence.
France doesn't get it! We as Africans want nothing to do with France..pls leave us alone
There is nothing to talk about concerning the intentions of the white man and the reason to keep him in his space. Those who are too destroyed to understand simple logic should be left behind. Progress can not afford another five hundred years of working with insanity. Keep the racist away from black people.
That would be great I want my France to leave, but the elites just wont listen. Sigh.
Africa we are Mentally Stronger than them, why are we Fooling ourselves? No risk no Fun. 🇳🇬🇳🇬🇳🇬.
Because our constituents are illiterate and disconnected to the political goings-on in their countries. The political elite are unreachable and untouchable, there is no force to move or pivot them.
SERIOUSLY?!!!! Urgh!!!! Cut ties completely!! What the hell!!!
There's always a catch. Like an ex who won't let you go.
So basically no change then. Just name change. If they were serious they would peg it to gold and stop speaking french
Yes and no. The money will be held in the african nations while still pegged to the the euro
@ Tab!!! One thing at a time, you can't pull off ignorant from its physco master that had humiliate them and reduced them to believe their cultures means nothing, their languages and dialects also, and everything about them are useless. We will speak our own language again one day.. don't you worry...
Pegged to Euro? Why those leaders still need connection with europeans? Still this people can not learn from the past?
They are corrupt and cowards
They make it sound like this was France’s idea. No, the West African countries did this all on their own. Also there are a lot more negatives to having your currency printed and managed in another country than just psychological issues. No one wants a middle man when it comes to their money, and that’s exactly what France is.
thats what i was thinking, its arrogance of another level.
It was France idea. They simply cannot stand the thought of hundreds of billions per annum being repatriated to the control of the respective afrikan states they have extorted for decades.
The French leadership over those same 5 decades have been honest in their admission of french codependence on Afrika. in fact, French very existence as a nation is impossible without Afrikan human or natural resources.
What a mess. From 🍳 pan to fire 🔥
HELL NOO.. that Eco thing is for Ouattara nd his husband Macron..Ouattara is a major disgrace
Any update on ECO or Franc in 2021? Or it just unchanged
BS they were stealing there money anything not back by gold set to fail
Oh please this news report is making me to feel sick.
This Africa leaders has to delete completely this so call Franc currency from Africa continent.
We need our Ecowas currency and that is.
"Best Christmas present ever?, Thankyou "merci'😂
Let the country grow on their own. You and other countries are sucking resources from Africa far too long.
Nigeria will never be part of this. Never, Never and Never
We can not fall our hands naa
Lol!! Nigeria signed the deal bro.
Alexander Andersson, which deal? You must be hallucinating...
Alexander Andersson where did you see that Nigeria signed the eco deal.Didnt you see when Nigeria Ghana and four other countries opted out of the Eco nonsense .pls read up before commenting
Another remix of the same song, which is entitled “French Neo-colonialism of 14 African countries”
This is ridiculous, Africa does not need to be babysitted anymore. If the leaders cannot pull us out, we must do all to pull us out of France.We need to unite as one state and be more powerful than France.
I think it’s obvious that the leaders can’t pull us out
Passivity by any other name is still passivity; which spells Africa as a colossal continental wasteland of subservience to its dispassionatly abused victim mentality of its own making. The face of Africa is covered with the death shroud that thankfully shields it's remorseless ugly impotence from horrific view. It's inhabitants should be held accountable for it's feckless victimhood status due to their innate inefficacy to defend their own land from foreign intervention and subsequent exploitation. The rich diversity of life ranging the spectrum from big game to wonderful landscape gems has been green lighted to disaster due to unconscionable passivity, at the groping hands of foreign interlopers, from time immemorial. It seems that the native Africans never embraced or lived their roles as owner occupants of their biosphere; fully appreciative of it's sustainability, short term for their immediate generation or long term into perpetuity, with valuable traditions to be preserved. Now the Chinese PROC is exploiting Africa in the speciously named Belt and Road Highjacking; to further tighten it's monopolistic economic noose around the already Chinese global stranglehold of even more valuably diminishing strategic earth minerals. African feminine passivity is its own worst enemy as opposed to the alleged Colonial tyranny that affixed the Welcome Mat at it's threshold, inside out. It is proffered by the learned Anthropology Community that the first woman emerged from Africa; and the tragic history of Africa supports this scientific notion, proof positive; mapping her every next footprint all the way to the convenient homeless shelter ,constructed by foreign intervention, for domestic abuse victims whining WHY ME.
Babysitting is a positive thing. Implies that Africa is being helped.
Let’s get one thing straight. France/ UK/ US etc are not in Africa to help but to make money. Since they stepped onto our continent it has been about business never about our lives.
They should peg their money to the gold and natural resources of the country NOT to the Euro or anything to do with France or Europe.
The medicine that makes you sick can't be at the same time the one that heals you....let's think about it
Pegged by Euro same shit different time. When the Euro falls your dallar falls also. Pegged it by gold gold gold gold gold not Euro
This seems like the euro all over again! All these countries using the same currency is a bad idea
What currency backs the EURO ? If there’s non, I recommend eco be backed by gold reserves period
Not a lot, but a lot to USD
Then watch who ever does that get assinated
This is really bad deal. Here are details of the deal: The deal requires daily information sharing with France would continue, including on reserves of each country. If reserves were to fall below a certain level, France would be entitled to request the reintroduction of its seat on the eco’s monetary policy committee.
France will also have the right to nominate one “independent” member of the monetary policy committee. The chosen candidate would not officially represent the French government and would have no reporting role. Plus the Eco is pegged to the Euro. This means the European countries can significantly influence the economical activities of the West African countries. Neo-colonisation.
They are pegging it to the Euro! I can't believe this, I'm so disappointed. How us this going to improve regional integration, particularly with Nigeria and Ghana.
Nigeria won't allow such to happen
Neither will Ghana. Ghana president said he will only join if they DONT peg it to the euro
Can someone pls explain to me something here? Is the eco currency for the whole of Africa countries or it’s for only 8 countries ?
I’ve read some articles and also listen to Dr. Arikana speech which she was saying that, The African countries are about to adopt one currency which is called Eco. Which would help us to trade between each other to bust our gdp as a continent to the world. How about that?
As long as this currency remains pegged to Euro it’s still pegged to France and French imperialism. Until this Francophone countries break away completely from France they should never regard themselves as independent but rather dependent on France.
The Euro has proven to be a failure in Europe, Greece as a country is an evidence of such failure. why should regions use the same currency? Every country should have power and control over its currency.
Being pegged to the euro is pointless! Its just a rebranding exercise calling it the ECO. France is selling you the benefit of currency stability by remaining pegged, yes it will be more stable initially but there is something pure about having complete control of your financial future!
Looks like Africa needs another Thomas Sankara
Which year is need
God bless Ms. Arikana Chihombori for bringing this into reality. Whenever Europe go broke, Africa pays the price. Those days were over baby gal!
So basically when they were called out they just changed the name and everything stayed the same. SHM
1:07 look at that interaction its symbolizes everything u need to know about this relationship.
You clocked it too👏🏿👏🏿👏🏿👏🏿
Why must the currency be pegged to euro? because they want to remain under the control of France.
let France send back all the reserves that has been deposited in France for all these years.
Ghana won't join ECO if it is ( the ECO) pegged to the euro. This is the formal position of the Ghana government.
Ghana, the leader of Pan Africanism and African Progressive and democratic revolution has spoken. Trust Ghana to always take it lead in Africa.
To be plegged means u are still under the same slavery but using different form
The word pegged have two definitions one you use it in economic terms it can translate as an exchange rate also known as a fixed exchange rate, is a type of exchange rate in which a country's currency is fixed against either the value of another country's currency or another measure of value, such as gold. They say it as its merits but as it demerits too like ones pegged to a larger country's currency, the smaller country can lose some control over its domestic monetary policy. The second meaning of the word pegged is sexual and don't have to stress it but, this situation we in with France I guess the second translation of the word pegged is what they might be doing to us.
Think of joining the whole Africa together with one currency.
Couldn’t they have pegged their currency to the proven resources of the region?
I am no currency expert but that is what I would want. To peg your currency to the Euro means that the value of the currency will be driven largely by exogenous factors.
Eco = Emanuel Control l' Ouest africain ! France please leave our currency
2019(G) “Respect and dignity.” Furthermore:
The next step is to stop pairing with euro. I know some people are not happy at the moment about the pairing with euro but that too will come to and end once all the countries start using the Eco.
I don't know when African leaders will win debate with European leaders why African can't afford to make their own currency like gold its our favourite to see young African talented to make debate
What the Europeans don't know is that we the African youths won't accept history to repeat itself 😤
This is evidence of how much Europe and France in particular depends on Africa.
Is like adding more sow to my injury
Compliment of the year 2020 to France 24 channel well done
Noting changes is like you turn and turn and come back to where you were from our leaders failed ous again
Man i cant take these lies anymore
A big LOL 😂
What the heck is wrong with these Francophone countries? Ghana, Nigeria stand your grounds. Don't allow FRANCE near the ECO.
Still pegged to the euro… says it all really 🤡
Why 50% and not 100%
1:07 notice the subtle display of superiority still
Pegged to ero? hmmmmm there is something behind this grammar oooo
The name Eco has been there for more than 15 years. Even I know that.
Why not peg it to dollar? Euro is worse than even dollar geopolitically
What could possibly go wrong?
Sooo were is the eco then?
Basically nothing has changed except for the name 😁
Note that the reforms on ECO didn't start with francophone countries using CFA in West Africa. ECO is not a decision by the 8 CFA using countries in West Africa but rather the reforms by ECOWAS.
So Central Africans STILL under the CFA...great!
Heru Behudety haha 😂
Ouattara est fou ! Qui lui a donner le droit de faire des discours ? De quel droit ! Traitre
I love how the terms of the Eco are FAR more onerous and exacting than the deficit (and sometimes even inflation) conditions of any of the top five economies in the EU, including France, or the US, China or Japan! So we see that this is no great tool of leverage or access. How is this fair?
What the heck do you mean 8 countries agreed. Only outara and macron. Don’t lie for us plz
Please our intelligence money controllers of west African should really have a deep analysis of this team's "pegged "
So if they have been trying to break free why are they still there. Can they not here themselves that what they are saying does not add up.
Why why why why Africa 😢😣😭
How about change the damn Eco to Euro in 2020
At this point we might as well
I knew this wasnt going anywhere
that money may never be accepted in Nigeria government, and her citenzen