The report makes a fascinating case for using competing currencies to restore financial stability and bring about a more sustainable economy. “We can no longer afford to overlook new currencies that could promote sustainability”, said Bernard Lietaer, the report’s author.
Bernard Lietaer and his co-authors also suggest a solution to the current Greek/Eurozone crisis based on Greece creating complementary urban or regional electronic currencies to run parallel to the euro, which the country would retain for international business. The civic/euro exchange rate would be determined in the online market.
Deutsche Bank has recently proposed a very similar solution – the creation of the ‘Geuro’, a complementary Greek currency to help it restore an internal competitive economy.