Strasbourg gets its own currency

A NEW local form of money has been launched in Strasbourg to boost local spending and encourage businesses towards fair and ethical practices.

Called the stück (meaning ‘piece’ in the Alsatian language) the currency was officially launched last month in the Alsatian capital.

Around 600 people have so far taken the new money and will use it to buy goods and services from local businesses which in turn purchase goods and services from local suppliers.

If successful, using the stück will create a ‘positive multiplier’ effect, keeping spending within the local area.

It follows a growing trend in France for “local currencies”, with more planned for Sud-Manche and Poitiers, plus the sou in Mayenne, the agnel in Rouen, and the nissart in Nice.

Find out more:

What is the stück?
The stück is a Monnaie Locale Complémentaire (MLC) in the area in and around Strasbourg. This means it is an extra currency to be used alongside the euro, not replacing it.

How does it work?
100,000 euros worth of stück notes were printed to accompany the launch, in 1, 2, 5, 10, 20 and 50 notes. These have the exact same worth as the euro, meaning one euro is exchanged for one stück. Any in-between amounts are to be made up in euro centimes.

Where can it be used?
The new paper money can be used in many businesses in the region, including bakeries, cafés, theatres and food shops. Participating businesses are recognisable through a sticker that reads En Transition – Ici on paie en stück.

What’s the point?
The aim of the project is to reinforce the social link between money exchanges and promote local trade, as well as creating a more united society. Association representative Antoine Levy told Connexion: “It’s a citizen project. It allows people to see how money works and circulates, as well as creating a business network and developing the region’s economy.” In order to discourage money hoarding and encourage the circulation of the new currency, the notes will lose 2% of their value every nine months.

How do you get it?
In order to start using stück currency, users must become a member of the association, which costs an advised price of €10. Notes can then be withdrawn from the Crédit Municipal of Strasbourg, which serves as a bureau de change.

Are there any negatives?
There are some restrictions with the new currency. For example, it is not possible to convert stücks back into euros.

How has it gone so far?
Mr Levy added: “The stück has been working really well so far. We now have over 60 companies that accept the currency, and we are hoping to expand the association and reach 1000 users by next year.”

Are there other similar local currencies in France?
The Stück is the latest in more than 30 local monies in France, including the abeille in the Lot-et-Garonne, the sol in Toulouse, and the largest currency, the eusko, in the Basque Country.

For more information and a regularly updated list of the organisations that accept the stück, visit the association’s website - www.lestuck.eu