german micro-currencies & localism
The German Havelbluete is just one of a number of different regional micro currencies gaining popularity in the Southern part of the country. The localized initiative ensures that spending and money stay in the region. Architects, plumbers, grocers and others all use the currency which has a 1 to 1 value with the Euro. The money is printed locally but not backed by any governmental body and it loses two percent of its value at the end of each quarter, encouraging people to spend for their daily necessities. Critics call the use of these microcurrencies a kind of economic nationalism, but their are gaining attention as a smart type of economic provincialism accepted by small businesses and stimulating the local economies of Southern Germany. Read more here.
Posted | Tags: local