PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Friday, April 13, 2012

Amid Economic Chaos, Volos, Greece Creates Own Currency

Nowhere in Europe is the financial crisis more pronounced than in Greece. The country is buried under huge debt. But in one city in the center of the country, residents have taken matters into their own hands.

In Volos, locals have formed an alternative currency to the Euro. It’s called the TEM, as the BBC reports:

It works as an exchange system. If you have goods or services to offer, you gain credit, with one euro equivalent to one TEM.

You can then use your “savings” to buy whatever else is being offered through the network, leading to some rather original exchanges of goods.

It’s not likely to displace the euro, but it is giving people who’ve seen their savings decimated by the crisis some hope. The BBC’s Mark Lowen went to Volos to see how the new system is working.


Please follow our community rules when engaging in comment discussion on this site.
Spotlight

From controversial new textbooks to a Maverick family reunion, here are stories from Jeremy Hobson's week in Houston and San Antonio.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

July 2 11 Comments

Professor Says Jefferson Davis Statue Should Be Removed, Preserved

At the University of Texas at Austin, there are calls to take down a statue of the Confederate president on campus.

July 2 2 Comments

Sweet And Savory Watermelon

Our resident chef shares five recipes, including watermelon pickles and a watermelon, crab and arugula salad.

July 1 5 Comments

What It’s Like To Lead A Non-Hierarchical Workplace

Terri Kelly is one of few people with a title at W. L. Gore – the maker of Gore-Tex – and she says she really doesn't like having one.

July 1 3 Comments

Joy Williams’ New American Songbook

The singer-songwriter and four-time Grammy winner joins us with a playlist of what she considers quintessentially American music.