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Southside proposes a currency of its own

SOUTH Dublin could get its own separate currency under a new initiative suggested by a local councillor.

South Dublin County Council is to consider introducing the currency, which would be used alongside the euro and accepted in shops and in transactions with the local authority.

The alternative cash, which does not have a name yet, would not be pegged to the Euro but would be exchangeable for it.

The council passed a motion at its monthly meeting to raise the idea for consideration.

Tabling the motion, Cllr Trevor Gilligan (FF) said the initiative would encourage consumers to spend their money locally.

The currency would not be the first of its kind -- in 2009 the Co Kerry town of Kenmare launched its own currency called the 'Youro'. Several local authorities in the UK have similar schemes.



Backed

Cllr Gilligan said the money would be acceptable for rent and bin charge payments and would be backed by "hard commodities" such as allotments, food and energy.

Supporting the motion, Cllr Guss O'Connell (Ind) said it put the focus on the local and shoppers would realise that if they strayed outside their area they would not be able to spend the money.

County Manager Joe Horan said there were several issues that would need to be "thrashed out", such as the problem of counterfeiting.

hnews@herald.ie


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