Monday, January 7, 2013

Helena Smith — Euros discarded as impoverished Greeks resort to bartering

Communities set up local currencies and exchange networks in attempt to beat the economic crisis
The Guardian
Euros discarded as impoverished Greeks resort to bartering
Helena Smith

4 comments:

Jonf said...

So there goes the tax revenue? You have to suppose there is now an exchange rate between the tem and the euro.

David said...

Jonf,

Bernard Lietaer was trying to explain to an audience of academic economist about how the Swiss complementary currency the "Wir" had a buffering effect for the Swiss economy during the GFC. The wir is much bigger than the tem is now. One of the economists objected, "well, it didn't prevent the GFC, did it?" Lietaer, a bit exasperated, asked, "But what if the Swiss gov. had monetized it?" (accepted the wir in payment of taxes)

Unknown said...

1 tem is supposed to worth 1 euro.

Roger Erickson said...

What's new? Aristocrats have been bartering peasants, patents, militaries, industries and whole countries for centuries - while exempting themselves from their own "taxes for plebes" regimes.

Taxes on micro-bartering is not something to worry about.