When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

blog

Daily Bread, A Local Currency For Paris?

The French capital is weighing whether to issue its own unique currency. But can I buy a baguette with that?

Bringing home the baguette
Bringing home the baguette

PARIS — The Seine is not only the river that runs through Paris. It could soon become the name of a future local currency used in the French capital. The association "Une Monnaie pour Paris" (A Currency for Paris) has been launched to convince city officials that it needs a unique currency to complement the euro.

The aim is to have the new local currency circulating in the city of Paris proper by late 2017, accepted by participating businesses that promote local production and services. Municipal employees might also be able to receive a part of their salaries wih the local cash.

It is estimated that there are more than 5,000 local currencies around the whole world. Among the best known is the WIR, first issued in Switzerland in 1934, in the middle of the global depression, and still used today alongside the Swiss franc, in electronic form to avoid credit drying up for local businesses.

The Paris effort is driven more by a desire to encourage local production and distribution, Le Figaro reports, comparing the initiative to online crowdfunding. But more than 30 other towns and cities in France have already experimented with a local currency, sometimes with rather limited success. The city of Montreuil, just to the east of the capital, launched its La Pêche currency in 2014, but it has not been widely adopted. "There aren't enough store owners who participate, so it doesn't occur to people to pay with La Pêche," one Montreuil city official told Le Figaro.

You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Insights from the widest range of perspectives, languages and countries
  • $2.90/month or $19.90/year. No hidden charges. Cancel anytime.
Already a subscriber? Log in

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!
Dottoré!

Sowing The Seeds Of Paranoia

"They must be dumping garbage — good, it makes for good fertilizer!"

"Slowly, we were the only ones left"

Mariateresa Fichele

"Dottoré, I know a lot of flags, and let me tell you why. I grew up in the province of Caserta, and — like everybody in those days — my parents owned a piece of land, and they would take me with them to farm it.

I remember there were other kids in the fields around us. But then, slowly, we were the only ones left because everybody was selling the land, making a lot of money off of it too.

Papà wouldn't listen to reason and he kept the land. But in the meantime, instead of farmers, trucks began to arrive. Many many trucks, unloading thousands of barrels and burying them into the ground.

Keep reading...Show less

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Insights from the widest range of perspectives, languages and countries
  • $2.90/month or $19.90/year. No hidden charges. Cancel anytime.
Already a subscriber? Log in
Writing contest - My pandemic story
THE LATEST
FOCUS
TRENDING TOPICS

Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

Watch VideoShow less
MOST READ