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<p>[QUOTE=&quot;chrisild, post: 473351, member: 39&quot;]Quite a few places in Europe have been using such local &quot;complementary currencies&quot; for several years; some are successful, some have failed. In some cases here in DE you get a discount by using such notes, some models include a slowly decreasing value of the notes (an an incentive to spend the notes), in other cases the value does not change but you get only, say, 95% of the value back if you change the money back into euro cash.</p><p><br /></p><p>The biggest German project of that kind is the Chiemgauer, in SE Bavaria. It was launched in 2003; about 280,000 Chiemgauer notes are in circulation, and about 600 businesses in that area accept them. Are they &quot;legal&quot;? On one hand only the central bank (ECB) may issue paper money; on the other hand merchants are free to accept pretty much everything they want as a means of payment ...</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

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