Re:The Fed Will Buy Bond ETFs Now
by skissane on Tuesday May 12, 2020 @04:40PM
(#23159456)
> Isn't the E.U. the only union and non-country to have a singular currency?
No, it isn't. In Africa, there is the West African CFA Franc issued by the West African Economic and Monetary Union, and the Central African CFA Franc issued by the Economic and Monetary Community of Central Africa – both are legacies of French colonialism, in which newly independent states decided to keep the common currency they had under the French colonial empire.
In the Caribbean, there is the East Caribbean Dollar, issued by the Organisation of Eastern Caribbean States. It is used by independent states that were former British colonies, and also by two British overseas territories. Like the CFA Francs, it is a case of newly independent states choosing to retain the common currency they had under British rule.
The idea of a common currency isn't that new. France, Belgium, Italy, Switzerland and Greece had a common currency between 1865 and 1927 (the Latin Monetary Union). Similarly, Sweden, Denmark and Norway had a common currency between 1873 and 1905 (the Scandinavian Monetary Union.)
No, it isn't. In Africa, there is the West African CFA Franc issued by the West African Economic and Monetary Union, and the Central African CFA Franc issued by the Economic and Monetary Community of Central Africa – both are legacies of French colonialism, in which newly independent states decided to keep the common currency they had under the French colonial empire.
In the Caribbean, there is the East Caribbean Dollar, issued by the Organisation of Eastern Caribbean States. It is used by independent states that were former British colonies, and also by two British overseas territories. Like the CFA Francs, it is a case of newly independent states choosing to retain the common currency they had under British rule.
The idea of a common currency isn't that new. France, Belgium, Italy, Switzerland and Greece had a common currency between 1865 and 1927 (the Latin Monetary Union). Similarly, Sweden, Denmark and Norway had a common currency between 1873 and 1905 (the Scandinavian Monetary Union.)