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IPFS News Link • Italy

Italian Town Creates New Currency To Cope With COVID-19

• https://www.zerohedge.com, Tyler Durden

The town mayor Enrico Fratangelo, had been studying minting money for 12 years before having the opportunity to put his ideas to the test.

"We decided to mint money to make sure the local economy could withstand the impact of the situation. However small this economy may be, there are three or four businesses still open, without considering bars or pubs," Fratangelo explained.

Supporting the Economy

Ducati are distributed to residents based on their economic needs and can be spent on essential goods. In order to minimize any confusion, the value of 1 Ducati will equal 1 euro. The town council received €5,500 from the government to issue food stamps, and with the addition of their own savings, they were able to fund the solution.

The entire process is managed locally with watermarked paper, with special care to ensure the notes don't transmit the virus, according to the copy shop owner Antonio Lannaocone:

"We start off with watermarked paper, then we print the banknotes — according to the design agreed with the administration — on one sheet of paper. We then laminate the sheet, so that the bills can be disinfected. Once it's laminated, we cut the banknotes with their final dimensions."


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