Upper Vinschgau regional money
Upper Vinschgau currency
A complementary currency is a payment option that is recognised as a means of exchange within a community in addition to the state currency.
- The local circuits that are created promote the regional economy.
- Economic sectors become smaller, more manageable and less prone to disruption.
- The social function of money comes to the fore and communities are strengthened.
- Networking between companies, businesses and consumers is supported.
State currencies are used to settle transactions in a competitive economy outside local circuits. To promote competition, capital must be scarce and expensive there.
The complementary currency is the medium of exchange in a cooperative economy. It is meant to promote community and to be sufficiently available. To keep it in circulation, re-exchange is only possible to a limited extent.