In Spain, financial crisis feeds expansion of a parallel, euro-free economy


By Ariana Eunjung Cha – At a time when the future of the euro is in doubt and millions are unemployed or underemployed with little cash to spare, a parallel economy is springing up in parts of Spain, allowing people to live outside the single currency.

In the city of Malaga, on the country’s southern Mediterranean coast just 80 miles from Africa, residents have set up an online site that allows them to earn money and buy products using a virtual currency. The Catalonian fishing town of Vilanova i la Geltru has launched a similar experiment but with a paper credit card of sorts. It implements a new currency worth slightly more than the euro when it is used at local stores. more> http://tinyurl.com/8h5gqfz

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One response to “In Spain, financial crisis feeds expansion of a parallel, euro-free economy

  1. Pingback: Spain: Social Revolution begins as Capitalism Collapses. « The Free

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