This article discusses the fact that since Greece's economy has been in such a poor condition, there are areas where people are beginning to use a barter system as opposed to the euro.
Greece's unemployment rate is currently 16 percent and the economy is still shrinking, causing many people to not have enough money to purchase all that they want to. This has lead to barter networks, such as those located in Volos, Greece. In these networks, a Local Alternative Unit (known as TEM is used), that is valued as equivalent to one euro. These are earned by offering goods and services and can be used for discounts when goods and services are purchased from other members of the networks.
These networks are becoming more popular as less people have the money to purchase items without a discount, due to the struggling economy of Greece.
This is a very interesting article and I am surprised to see the barter system being incorporated back into the economy. Those who struggle to earn money often have a very difficult life and struggle to survive through each day. The barter system allows people to compensate for their needs in other ways than currency and I think it is great that sections of Greece have looked for new ways to help their citizens to acquire everyday necessities they could not previously afford.
ReplyDeleteIm actually glad that Greece found other ways to support themselves. The barter system is a good way to help the citizens when the unemployment is very high.
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