– Thirty businesses have started using old currency
– Spain estimated to have saved 1.7bn euros in pesetas
– Jobless rate in Villamayor de Santiago above national average – with a third out of work
Lee Moran
Mail Online
February 15, 2012
A Spanish town is looking to the past to safeguard the future of its ailing economy by reintroducing the peseta.
Fed up with the failing euro, rebellious locals in Villamayor de Santiago have reverted to using the old currency, which was phased out a decade ago.
Around 30 shops in the historic town, 75 miles south-east of Madrid, started accepting pesetas last month after urging customers to dig out any old notes and coins they had forgotten about.
… ‘We thought that if people had a hunt around for their old pesetas, then why shouldn’t we accept them as legal currency?
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