Sunday, October 25, 2015

Don Quijones — Barcelona Threatens to Print Parallel Currency, Madrid Seethes

Barcelona will not be the first European city to launch such a scheme. Local currencies are all the rage these days. There could be as many as 3,000 forms of local money in use around the globe, says Community Currencies in Action, a global partnership promoting such schemes that is part-funded by the European Union’s Regional Development Fund. Which begs the question… 
Why’s the EU promoting parallel local currencies around the world?
Wolf Street
Barcelona Threatens to Print Parallel Currency, Madrid Seethes
Don Quijones

1 comment:

Joe said...

Just to what extent is the EU promoting parallel currencies?

Is it possible that the EU is promoting parallel currencies because EU leaders (like every other human that's even half awake) know that the euro is totally and irrevocably fucked, and the parallel currencies could eventually replace the euro, or at least relegate the euro to more of a secondary role to be mostly used for international trade? This would allow the European elites to somewhat save face and not have to directly admit the euro is a failure while simultaneously easing the problems directly caused by the Euro's gold standard-like structure, also while never having any official eurozone exits. With such an utterly failed project, how else could two generations of European elites save face? ... I know, it's probably too good to be true.