Tuesday, January 22, 2013

The "eusko", the new basque currency

The “Euskal Moneta” association presented on the 16 of January bills of a new Basque currency called “Eusko” in the north of the Basque Country. This currency will be available in late January just is the north of the Basque Country.

Is scheduled that for the January 31  about 126,000 bills of one, two, five, ten and twenty “Euros” with the illustrations of the basque culture enter into circulation.
At the moment, 73 basque companies, traders, freelancers and associations from multiple sectors have joined the project.

The objective of this project is to create a coin that favors local development and support environmental preservation. This currency is looking for developing the basque culture, as well as the use of the euskera in public, for example, in the shops.

The consumers will buy the products at the same price as they would buy with euros but the supplier or dealer will provide the 5% to convert “euskos” in euro. The 3% is reserved for social associations, cultural, linguistic and enviromentalists involved in the the system. The other 2% will be used to finance this system of local currency. With this project, it encourages the reuse of “euskos” instead of changing them.

The people that want to participate in this system must adhere to the association by paying an amount between 5 and 20 euros, and choosing a collective that will benefit with the 3% of the amount of payments made with “euskos”, after having converted their euros into this currency.

Jorge Uceda

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