Local currencies

The current monetary system is proved to be unsustainable because of “Amplification of boom and bust cycles,” “Short-term thinking,” “Compulsory growth,” “Concentration of wealth” and “Devaluation of social capital”(Lietaer et al. (2012), “Money and Sustainability”, published as a report by the European chapter of the Club of Rome), but Social and solidarity economy (SSE) has seen a series of innovative initiatives also in the financial and monetary realms, such as ethical banks, local currencies, as well as the emergence of monetary reform proposals. The confluence's goal isn't limited to gather different practices within the SSE, but also to extract inspiring ideas from them and to propose an alternative to the current monetary system which is based on money creation by private banks as credits, in other words the real economy needs somebody to get indebted to get the necessary liquidity for our daily transactions.