Volos, a town in Central Greece, has developed an alternative currency to replace the Euro. TEM is more or less a form of barter, a promissory note to provide a product or service in exchange of a commodity.
From jewellery to food, electrical parts to clothes, everything in certain Volos communities are exchanged or bartered through TEM.
It works as an exchange system. If you have goods or services to offer, you gain credit, with one euro equivalent to one TEM.
One local puts it, “It’s a very good idea because we need to make people realise we can all buy and sell something; we don’t only need euros.”
People of Volos have proved that paper money is very much replaceable, and barter is the way to go – if your economy lies at the rock bottom of recession. Using barter keeps the economy free from interest and usury. It will be a win-win for both buyer and seller and keeps the society clean free the fangs of Capitalism.
As the adage goes, You are not poor when you have no money, you are poor when you have nothing to offer.
Way to go, Volos.