Italian town declares independence, prints own currency, in protest at austerity cuts

Creating local currencies is a long-standing part of the Transition approach.

The aim is to support the local economy by creating a currency that cannot be siphoned off as profits for outside companies, and remains unaffected by crises in the international money markets.

The Italian town of Filettino (about 70 miles east of Rome) has now gone a step further — it has printed its own currency and declared independence from Italy, as a protest against planned government cuts.

As a town of only 598 inhabitants the impact on Italy is not likely to be huge. And as the Mayor points out, Italy is after all a nation forged from countless city-states.

If they want to print their own money to trade with each other, and provided their ‘imports’ from other parts of Italy are not large, why not?

In the meantime the town experiencing an upsurge in tourism as TV crews from as far afield as Russia have been covering the story, and tourists are flocking to the town to buy the new banknotes and t-shirts.

SOURCES:

BBC

New York Times

 

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One Response to Italian town declares independence, prints own currency, in protest at austerity cuts

  1. Marjie says:

    I love love love this towns independence!!! This is a wonderful.

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