Whether buying bread, filling a pharmacy prescription, getting a haircut or going to the doctor, some residents of Montreuil, France, are rejecting the euro in favor of ‘La Peche’, a local community currency.
In France, local currencies are growing in popularity as trust in state institutions erodes. An elaborate coupon system lets locals pay for services and goods with special local banknotes, which are recycled and kept within the community.
France, Europe’s second largest economy, has at least 20 different types of complementary currencies. Worldwide there are over 4,000 community-centered money schemes.
“First it’s practical. Local currencies stay and develop in the region. Second ideological. A lack of confidence in official currencies makes people want to have something they understand, that they can control, and that they can trust, not just something that is printed, you don’t know how, with no control and leads to speculation,” Herve Pillard, a French finance lawyer told RT. ...