E&M

2020/3

Donato Masciandaro

Euro and African Franc Better Together

The analysis of the macroeconomic costs and benefits of the experience of the African franc is much more complex than what the superficial debate in Italy in recent months suggested. The French government's decision to reduce its role will mean that the African countries will have to choose how to continue relations with the euro. The ECB could have an active role in the relations with the African countries, substituting European guarantees for French ones. 

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