1 October 2011

Who needs the €! By Edouard

On the 23rd September 2011, the Guardian website published an article on the “Chiemgauer”. It's an alternative currency to spend in local shops in southern Germany. This new currency was the result of a school project. Its value diminishes after three months and is only valid in the local economy. The fact that it depreciates accelerates its circulation and therefore boosts the local economy (it circulates nearly 2.5 times faster than the Euro). More than 600 businesses now accept the Chiemgauer. In 2011, it constituted the most successful alternative currency in the world. Other local currencies were created during the crisis of 1929...

German Euroscepticism has risen following the crisis of 2008. I’ve a feeling that people have lost hope in the European currency. Indeed, the creation of regional or national currencies would indicate a return to the past. And the events in Greece might further compromise the Euro's credibility. What do you think? Does the Euro still have a future ? Comments please!

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