Euroland

A report by the World Bank, 'Will the euro create a Bonanza for Africa?', finds that a 1% surge in euroland's GDP growth could lead to a 0.6% increase in CFA countries' exports to the EU.

The central banker told reporters the ECB council members share the perception that the euro has the potential to strengthen against other currencies in view of the stability of the euroland economies.

What's more she has some wise advice for people who think now we all live in Euroland you'll be protected everywhere.

Now this has great benefits, for on leaving day, we cease to make any payments into the Euroland accounts.

A Ukrainian gentleman recently explained on TV that they had been bombarded with propaganda by the EU and USA that they would be better off in Euroland.

The combined effect of Fed hawkishness and Draghi remarks on 'downside risks' in Euroland hit the euro and lifted the dollar.

The 17-strong euroland may then go on to set new rules - such as a financial transactions tax - which could affect Britain even though we would have no say on them.

MENTION problems in Euroland and we all indulge (if we can stay awake) in a mixture of "told you so" and "ho ho ho".

However, the dollar is not looking very oversold versus the euro and has apparently reached the pain threshold for Euroland. Generally speaking, $1.30 per euro appears to be the level at which the European monetary authorities begin "verbal" intervention.

Rod Turner, chairman of Business for Sterling West Midlands, added: "If the euro can be rejected by a small country like Denmark, which has close economic ties with 'euroland', then the euro lobby must realise it will be rejected by Britain."

In the final week the Government have fought back hard, claiming Denmark would lose investment and jobs if it remained outside Euroland.

So far, on the trade side the most tangible benefits for the CFA zone are lower transaction costs (commercial and currency) for their trade with Euroland. Otherwise, only if the euro leads to an economic upswing in Euroland would the African continent at large reap economic benefits such as higher exports and more inbound foreign direct investment.