Scrip Money Arrives in Greece
"Businesses in Thessaloniki and other parts of the country are already creating parallel private currencies to keep trade alive and alleviate an acute shortage of liquidity."Vasilis Papadopoulos, owner of the Maxi paper mill in Katerini, said the situation was becoming desperate for his industry. 'I have enough raw materials to last until July 14. If I don't get any more pulp, I will have to close the factory. It is a simple as that. I have 183 employees and I will have to start laying them off,' he said."His firm has reached an accord with regional supermarkets to accept coupons or private scrip money in lieu of payment as soon as next week. His workers will then be able to use this paper as a parallel currency at the supermarket to buy goods."
"Companies issuing private label currencies is probably not as one-off exceptional as people will tend to assume."I personally have been anticipating that further evolution towards a more 'Hanseatic' style economy will include the emergence of multiple exchange systems operating concurrently in parallel. These exchange systems will naturally develop faster during times of turmoil than when everything is quiet."