Barter Popping Up in Greece


According to an article in the Atlanta Business News, Grecians are ditching the Euro before it lets them down, and many are moving toward and using local exchange currencies.

A small but growing minority in about a dozen Greek towns are using an alternative exchange system to help them survive the crisis. That’s been attracting increasing attention amid concern that Greece — stricken by political chaos — will be forced to leave the euro and return to the drachma.

Volos has Greece’s first and biggest TEM network, with 600 members and 30 affiliated businesses.

Members take payment for their goods and services in TEMS, and use TEMS to obtain goods and services from other members in the network.

In effect, a barter economy.

There’s a central market in Volos where producers gather every Saturday to haggle over items such as eggs, jam and clothes — and pay in TEMS. Members register on the network, offering goods or services. The Volos group includes computer technicians, doctors, house painters and farmers.



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