Saturday, September 3, 2011

Italian Town Filettino Declared Independence and Printed Its Own Banknotes

A small town in central Italy has declared its independence and started to print its own banknotes.

The authorities in Filettino, 100km (70 miles) east of Rome, are protesting against austerity measures.

It has only 550 inhabitants and under new rules aimed at cutting local administration costs it will be forced to merge with neighbouring Trevi.

Town mayor Luca Sellari, who stands to lose his job because of the eurozone crisis, came up with the idea.

He created his own currency, called the Fiorito, and they are already being used in local shops and being bought as souvenirs by tourists who have started to throng the normally quiet streets.

A banknote worth 10 fioritos - or exactly €20 - as is now used in the Principality of Filettino. The face on the note is that of mayor Luca Sellari.

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