What can Africa teach the eurozone?

Africa - 04/10/2012

As European leaders battle to control the eurozone debt crisis, 14 sub-Saharan African countries could teach them how to maintain a disciplined and stable currency union. Their single currency system, the CFA franc, keeps inflation low, retains investor confidence and in recent years has enjoyed rates of real economic growth that Europe can only dream about. It has also weathered severe economic pressure - most member countries depend on price-volatile commodity exports and several are among the poorest on earth. Parts of the bloc - which encompasses mostly former French colonies in West and Central Africa - have also endured violent political instability.