Sunday, 15 July 2012

The EuroZone crisis from an African perspective

Africa has been pointed out as a growing economy as Europe who contribute more than 20% of world trade are struggling.

To the African [Zimbabwean] on the street, the crisis in Europe is but another story in the news.
The ordinary African is not wary of the consequencies of the crisis.
The African governments are feeling the heat especially those that have largely relied on European markets for cocoa, coffee, beef, horticultural products, etc.

The producers watch in awe as their traditional markets dwindle and they are forced to source out new markets and renegotiate agreements.
The African governments, burdened with the responsibility of protecting their farmers, are having a torrid time with the reality of a dwindling European market.

Donor funds for health and education have suddenly been cut and African budgets are ending in deficits as governments are burdened.

The ordinary African is in the dark but the governments can feel the heat.

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