The new mayor of Barcelona, Ada Colau, says Preparations Underway for New Local Digital Currency.
The objective of the currency, whose name will be decided after a participatory process, is to “promote local businesses.”
Libre Mercado says the plan looks more like a publicity campaign for Barcelona. The Bank of Spain called the currency “impossible besides undesirable”.
I point out that Barcelona is the capital and largest city of Catalonia, the second-largest city in Spain and the center of one of the largest metropolitan areas in Europe.
Please note the connection: Pro-independence parties in Spain won an outright majority in the recent Catalonia regional election.
Reuters reported Victorious Separatists Claim Mandate to Break with Spain.
I commented Pro-Independence Parties in Catalonia Unite to Form Government; Showdown with Madrid Coming Up
That showdown now includes a new digital currency.
Mike “Mish” Shedlock