Urstromtaler
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The Urstromtaler is a community currency being used in the German town of Magdeburg side by side with the euro. It equates one to one with euro in value and is accepted by several local shops and businesses. The supporters argue that this helps the town by promoting local business especially for the small local shops that have to compete against corporate supermarkets and chain stores. Magdeburg is a former East German town that is struggling economically, like other formerly communist towns.
There are several other regional currencies that have sprung up in Germany. Sometimes it is argued that Regiogeld is illegal, but most academics tend to see Regiogeld as a legal and welcome route to adapt regional economies to globalisation.
