In austerity-pounded Italy, 11 alternative currencies smooth out a surging barter economy

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austerity: It has unintended consequences. I smell some irony there too…


The Euro was always a shit idea outside of Germany, France, and the Low Countries. Maybe fold Austria in there and any of Scandnavia that might have wanted to play ball, but Greece/Italy/Spain/Portugal? Absurd.

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In defending the Euro to the point where the policies hurt its users the central bankers are now pushing them into these alternative currencies. This result of austerity run amok isn’t always going to be good, either – for every happy communal barter system that springs up there will also be a company “generously” offering scrip as payment to its workers.


It’ll never happen, but wouldn’t it be fun if all the world’s billionaires discovered that nobody would take their coin in exchange for goods and services any more because the rest of us switched to something else.


I live in Rome and i never heard anything about that.
These are probably not much more than thought experiments.

Also, of course the overall economic situation could be a lot better but “brutal austerity”?
Maybe someone watched a rerun of the walking dead and mistook it for a newscast?

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Probably one of the most successful virtual currency is Sardex, but it’s used here in Sardinia between companies, its model seems to be very effective and it’s under study by other Italian regions

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