The TEM (Τοπική Εναλλακτική Μονάδα – “Alternative Monetary Unit”) is a LETS-based currency in the Greek city of Volos. Emerging in response to the country’s economic crisis, the TEM gained over 800 members in just the first few months of operation.
The credits are pegged in value to the Euro and can be earned and spent through the network on a range of goods and services.
More info: http://www.bbc.co.uk/news/world-europe-17680904
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