Tuesday, October 27, 2015

With a Spanish city set to create parallel currency, is the EU on the brink of losing monetary control?

The European Union (EU) was originally setup to be a trade union that expanded decades later into a monetary union.  But with the European Central Bank (ECB) at the heart of financial destruction created in nations in Southern Europe, several peoples within these insolvent countries are now fighting back with the use or establishment of alternate forms of currency.
On Oct. 24, an official in the city of Barcelona announced that the municipality is planning to engineer a parallel currency to the Euro, and forge ahead with a localized form of money that goes far beyond the black market currencies now being seen in places like Greece and Argentina.

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