Creating local currencies to handle the global crisis

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Research Fellow, University of California, Berkeley, Former senior civil servant, National Bank of Belgium, Monetary architect who helped create the ECU, Author of the book Monnaies régionales : des nouvelles voies vers une prospérité durable

Seminar Entrepreneurs, towns and regions | Wednesday May 13, 2009 - 17h45 - 20h

The banking and financial crisis has been in the headlines for months. Why is this crisis more serious than others before it ? Where did the system go wrong ? Why are conventional solutions (such as lowering interest rates, bailing out the banks and Keynesian reflation) inadequate ? We know that this crisis comes at the same time as other unprecedented global challenges such as climate change, the economic effects of ageing populations, and technological change which separates growth from employment. What monetary innovations are available today to resolve these challenges structurally, and transform this crisis into an opportunity ? What can governments, companies and citizens do to avoid being drawn into the banking collapse ? These and many other questions were discussed during this talk.

The entire article was written by:


This session was published in issue n°80 of the Journal de l'École de Paris du management, entitled Ingéniosité.

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