Italian city began to print its own money

The Italian town of Castellino del Biferno, located 158 miles from Rome, began printing in the cityprinting house own currency - “Ducati”.

To support the local economy during the pandemic, the city measures printed 10,000 ducati banknotes, their rate against the euro is 1: 1.

Banknotes are printed on paper with watermarks, according to the design approved by the city administration, and are laminated for easy disinfection.

The idea belongs to the mayor of the town in whichOnly 550 people live. The currency will serve to support the business and "people who need extra help to cope with this extremely difficult time." The mayor stated:

This money can be used in the community and works like classic vouchers.

Local bills can be used to buy food, medicine and any goods from urban entrepreneurs.

About 5,000 euros will go to the aid of the local hospital, and 4,000 of them have already been spent by residents in the city grocery store.

Every two weeks, stores return Ducati to the city council and receive the corresponding amount in euros.

City Hall received about $6,000 in cash fromItalian government to establish a food stamp program for the most vulnerable population. This – combined with city savings – helped organize an operation to issue its own banknotes.

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