Corsica could one day have its own complementary currency


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The complementary electronic currency should stimulate economic activity.
The complementary electronic currency should stimulate economic activity. Caroline Blumberg / MaxPPP

No note with the resemblance of the mouflon, the emblematic animal of Corsica, but more likely a digitized payment method. Since 2014, the island of beauty seeks to acquire its "complementary currency". Launched by the left territorial majority of the time, the project was pursued by the nationalists, in power since 2015, but met with a first trap, two years later, when an attempt to put into circulation in the region of Bastia, for a volume of 400,000 euros in cash, has been postponed indefinitely.

"Our approach moves away from any symbolic, ideological or folkloristic dimension Jean-Christophe Angelini, President of ADEC

Since then, the launch of the complementary insular currency has been led by the Agency for the Economic Development of Corsica (ADEC), the ministry of the local economy, and has undergone some adjustments designed in particular to avoid accusations of "monetary separatism". "On an island where the symbols weigh, the initiative immediately brings to mind the ephemeral independence of Corsica in the eighteenth century, at the time when Pasquale Paoli, "Babbu di a patria", the "father of the fatherland", issued his twenty (two money) and his baiocchi (eight money) hit with the "head of the Moors, turned to dexter ", in the village of Murato, near Bastia.

Read also In the Basque Country, a currency that claims both an identity and an economy

"Our approach, explains Jean-Christophe Angelini, president of ADEC, deviates from any symbolic, ideological or folkloristic dimension. On the other hand, what we clearly want is to promote an entrepreneurial and pro-business logic: the political authority gives the impulse, the private and associative economic actors grab it. " a "Call for expressions of interest" it should be launched by the end of January for the pre-selection of projects before implementation "Within eighteen months". The principle? Inspired in part by the incredible success of the sardex, the complementary currency in effect on the neighboring island of Sardinia.

The Sardex model

Launched in 2010 by five friends from the small town of Serramanna (9000 inhabitants) at the height of the financial crisis that is shaking the world, the motto was covered by international awards and received the honors of Financial Times. Neither banknotes nor coins, the sardex works electronically: each newcomer in the network – for a variable contribution depending on the size of the company – can buy a good or service to another member of the network and see his electronic debit account of the equivalent value. He does not pay any comfort, not the slightest interest, but must in turn, within a given period, sell a good or a service to restore the balance of trade. Thanks to a team of sixteen brokers, brokers, network actors are put in relation based on their offers and their needs.


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