History Doesn't Bode Well For The Future Of The Eurozone

merkel hollande eu summit may 2012

Photo: The Council of the European Union

Any traveller among the former French colonies of West Africa in the early 1990s could have foretold the future of the euro. The prospects weren’t pretty.

Most countries of Francophone West Africa were then, as they are still, members of a single currency zone very much like the Eurozone. Legal tender for the 13 countries was a pair of essentially identical currencies known collectively as the CFA franc — named from the French acronym for “African Financial Community.”Read the rest at the Los Angeles Times >

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