Exploring complementary currencies in Europe: a comparative study of local initiatives in Spain and the United Kingdom

Calvo, Sara and Morales, Andrés (2014). Exploring complementary currencies in Europe: a comparative study of local initiatives in Spain and the United Kingdom. Living In Minca.

Abstract

The potential of local complementary currencies (CCs) as an innovative response to austerity and recession has been recognised at European level, particularly in recent years with the rising unemployment, environmental degradation, community fragmentation and social exclusion. Although local CCs have attracted considerable media attention, academics have been slower to analyse their emergence. Therefore, this study aimed to address this knowledge gap and gained greater insights into the dynamics of CCs in two European countries; Spain and the United Kingdom (UK). This paper attempts to understand the emergence, development, operations of 4 case study organisations (Brixton and Bristol pound in the UK and La Pita and Ekhi in Spain), as well as participants views and political support at local, regional, national and European levels. This paper contextualises as well as depicts the socio-economic circumstances and the scenario that these CCs have been evolved.

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