VILLAGE RESIDENTS BRING BACK IRELAND'S OLD CURRENCY

Описание: (31 May 2012) As Irish voters decide whether their government can ratify the European Union's fiscal treaty, the townspeople of the hard-hit Irish border town of Clones are taking a punt that bringing back the pre-euro Irish currency into their commerce is the best way to help to dig themselves out of austerity.
Proprietor Tony Morgan came up with the business scheme along with his 21-year-old son Ciaran.
The plan is to tap into the massive reserve of old Irish currency that people have been hoarding, in order to pump up a local economy devastated by the recession and years of being cut off from major commerce due to the political troubles just across the border.
Morgan says that according to the central bank of Ireland, there are nearly three hundred million Irish pounds still in circulation.
His plan - which has now been adopted by some 44 other local businesses - enables customers to unload their old currency by spending it in this town.
Vouchers will be given for the change from transactions that also must be used at any of the participating businesses.
Morgan is delighted that the scheme has already brought in the equivalent of 1,200 euros (1,480 US dollars) since he started it back in March. It's a start, he says.
His friend Bernard McNally, the owner of the SuperValu market nearby, says the scheme has earned about a thousand Irish pounds and he has just put it into play a few weeks ago.
The scheme - whether deliberate or not - also seems to exploit discontent with the euro which is not only apparent in Ireland.
Tony Morgan says he voted no on the fiscal treaty. He no longer has faith in the government's proposals and recommendations although he says it was a tough choice.
But not everyone in this border town feels the same way.
Voting shortly after Morgan, Anne O'Harte believes that whatever its problems, Ireland is "better with somebody" and "too small on our own."
Referendum results are expected on Friday evening.


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