Town that gave itself a licence to print money
The value of sterling may be plummeting as fears grow over the depth of a possible recession. But in the scenic East Sussex town of Lewes - famous for its bonfire night parties and bewildering number of pubs - a handy alternative is about to become available.
Next month, in the latest sign that localism is a coming force in British everyday life, Lewes will launch its own currency. In doing so, it joins a growing list of communities around the world attempting to protect regional economies and preserve the distinctive 'feel' of towns and villages.
The Lewes pound will initially be accepted in around 30 locally owned shops and a first run of 10,000-plus notes is expected. It is the largest-scale launch of a local currency in the UK since Lewes had its own pound in the 19th century and, in a coup for the organisers, the town's branch of Barclays bank has agreed to accept it.
Read entire article at Observer (UK)
Next month, in the latest sign that localism is a coming force in British everyday life, Lewes will launch its own currency. In doing so, it joins a growing list of communities around the world attempting to protect regional economies and preserve the distinctive 'feel' of towns and villages.
The Lewes pound will initially be accepted in around 30 locally owned shops and a first run of 10,000-plus notes is expected. It is the largest-scale launch of a local currency in the UK since Lewes had its own pound in the 19th century and, in a coup for the organisers, the town's branch of Barclays bank has agreed to accept it.