Business

It Has Come to This: Greek Towns Reverting to Barter Economies

It Has Come to This: Greek Towns Reverting to Barter EconomiesThe ever-deepening eurozone financial crisis has forced many Greeks to rely on barter-style economies.

“I want to use euro but it’s very expensive and I believe trade is better,” said Volos resident Artemis Zafiriou of in a recent NBC News report.

The town of Volos is not special. It’s one of the many Greek communities that have been hit hard by the financial crisis and high unemployment, forcing a growing number of individuals to trade goods and service in return for essentials. For instance, Zafiriou and her “partner” “sell ”chicken eggs, homemade marmalade, and soap at an open-air market in town,” according to NBC’s Yuka Tachibana.

“Looking like a mix between a flea market and a farmers’ market, it is packed with colorful stalls displaying fresh produce, home-baked bread, second-hand clothes and jewelry,” Tachibana writes.

“Members can also go online and buy or sell services like yoga classes and piano lessons. An alternative currency, known as TEMs in Greek, is used. When members sell their goods or services, either online or at the market, these accrue in their online account and can be used to buy from other members,” the report adds.

It Has Come to This: Greek Towns Reverting to Barter Economies“TEM”: an alternative currency

When the Volos barter network started in 2010, it had 15 members. But as the eurozone financial crisis became more serious, the network has seen its numbers grow to over 600 active members with approximately 400 more registered in the system.

“People need some way out, some other way to do things. I guess also people need to get to know each other,” said network founder Christos Papaioannu. “There is no middleman, everyone exchanges directly — it makes people happy.”

Schoolteacher Irene Blomy says the barter network provides people in the community some relief from the financial crisis.

“It’s very nice, I think I don’t have stress,” she said. “When you have to buy something in euros you’re always in stress. But now I’m OK.”

Although the network offers assistance to members of the community, Papaioannou says it’s not intended to replace the euro completely; it’s only meant for momentary relief.

“It’s a parallel way, but a way where people decide together how to arrange and deal with things. Everything is transparent, and open. Everything is small scale,” the network’s founder said.

Front page photo source: NBC News

Comments (40)

  • Brian Williams
    Posted on June 18, 2012 at 1:52am

    The sad part about Greece is that their government was infiltrated by bank people who got the government to sign onto bank debt that the people didn’t really owe. The same thing is happening in every country. You know, “too big to fail”. Iceland said no, weathered the threats and the stories of doom and gloom, but are now recovering. We must do the same. The bankers belong in prison; not in key positions in our governments.

    Report Post »  
  • Brian Williams
    Posted on June 18, 2012 at 1:42am

    It would be a good idea to learn how to barter here in America also. We should get started sooner rather than later.

    Report Post »  
  • nelan72
    Posted on June 17, 2012 at 2:20pm

    They can easily exchange labor for a product of value and avoid currency entirely. But it is easier to carry a currency based upon labor.

    Report Post »  
  • deadend
    Posted on June 17, 2012 at 1:05pm

    Prices keep going up and the rabbit and Squirrel population will go down in my area

    Report Post »  
  • rockymtngal
    Posted on June 16, 2012 at 5:39pm

    If Obama gets re-elected, people will be bartering with food stamps to pay their rent…that is, if they are not already in a section 8 home. You can’t eat gold. The value of food keeps going up. Which would you rather have to barter with?

    Report Post »  
  • TheSitRep
    Posted on June 16, 2012 at 1:18pm

    Oddly enough, my chickens, rabbits and garden don’t comprehend recession.

    Report Post » TheSitRep  
  • oldwmn
    Posted on June 16, 2012 at 8:32am

    Best book ever about how our Grandparents and Parents survived the Great Depression its called
    WE HAD EVERYTHING BUT MONEY… go check it out at your local library..My Mom made her underwear out of flour feed sacks, they also drew a line up back leg with eyeliner to look like they were wearing hose, plant a victory garden, it you dont have seeds, plant all the free seeds you get every time you clean a melon, pumpkin, old onions that sprout will grow new chives, old potatoes will grow into nice flowering plants, sell your rose petals as sachets, make your own bookmarks and sell them or trade them, recycle everything to death then recycle it some more, dry onions, berries, vegetables hanging from string in your kitchen window use it later when your broke, make your own noodles, make your own soap, its all how you were brought up..

    Report Post » oldwmn  
  • teddrunk
    Posted on June 15, 2012 at 11:56pm

    We already have the barter system. Millions of rummage/garage/estate sales every weekend. Where people sell their junk to make money to buy junk at other peoples sales.

    Report Post »  
    • Bryan B
      Posted on June 16, 2012 at 4:06am

      @teddrunk

      The last time I had a “Garage Sale.” I paid my Electric Bill and bought Food for my family. People are no longer having these sales, “rummage/garage/estate,” so they can buy more stuff. Their using the money to survive on and get by another day……

      Pray for Jett……..

      Report Post » Bryan B  
  • aztireman
    Posted on June 15, 2012 at 11:52pm

    The only real prescious metal that will be easily traded in small quantities is going to be lead, stock up now people!

    Report Post »  
    • GenOptimus
      Posted on June 16, 2012 at 4:31am

      The two greatest trade goods of history 1) clean water and 2) A M M O. nuff’ said.

      Report Post »  
  • independentvoteril
    Posted on June 15, 2012 at 11:45pm

    Pretty much the barter system has never died.. it’s the best way to go when you can.. cuts out the government.. just like hiring people to do something as a side job..or family getting together to help each other do home improvements.. only the FAMILY gets extended.. LOL..

    Report Post » independentvoteril  
  • wifezilla
    Posted on June 15, 2012 at 10:34pm

    Take notes people. This is our future.

    Report Post » wifezilla  
  • JUSTANOTHEROPINION
    Posted on June 15, 2012 at 8:35pm

    Proof of the human spirits’ abillity to persevere.

    Report Post »  
  • DGuy
    Posted on June 15, 2012 at 8:04pm

    I need to buy more items to be used for barter before the dollar becomes worthless. (and it WILL)

    Report Post »  
    • poorrichard09
      Posted on June 15, 2012 at 8:32pm

      What this does is remove the problem (the government) from the transaction.

      Report Post »  
    • GenOptimus
      Posted on June 16, 2012 at 4:38am

      Here’s a tip my friend: Instead of cruching old 2 litter soda bottles, fill them with tap water and screw the cap on real tight. regular tap water is bset because the filtration plants put a slight amount of chemicals in the water to prohibit bacteria growth which is good to have for long storage periods.

      Report Post »  
  • IndianaJan
    Posted on June 15, 2012 at 2:58pm

    Excuse me, but has no one else noticed the alarming spate of miserable “real life” TV shows, including, but not limited to: pawn shops, survivalists, “preppies”, bartering, bidding on someone’s storage locker, wallowing in swamps, getting your car repoed, and unwed16 yr olds having babies????
    Crap. It IS the end of the world.

    Report Post »  
    • AmazingGrace8
      Posted on June 15, 2012 at 3:11pm

      Oh wait. How about what happens to young girls in Thailand that are “sold” as sex slaves to others in order for the rest of the family can survive. Women that want to abort girls in this country may give pause and “think-about-that-one“ as far as putting a ”bounty” on their daughters.
      Sad world……but Satan KNOWS his time is getting shorter.

      Report Post »  
    • LameLiberals
      Posted on June 15, 2012 at 5:12pm

      You know the economy is BETTER … not when a lying president says it is but when:

      a. Gold buyer commercials go away
      b. Reverse Mortgage commercials go away
      c. Reduction of Bankruptcy commercials
      d. Reduction of Social Security DISABILITY lawyer commercials

      Report Post »  
  • Snowleopard {gallery of cat folks}
    Posted on June 15, 2012 at 2:24pm

    Coming to America thanks to Obama.

    Report Post » Snowleopard {gallery of cat folks}  
    • Caniac Steve
      Posted on June 15, 2012 at 3:10pm

      if the dollar collapses..we alBTW..who owns the fed ??.

      Report Post » Caniac Steve  
    • rickc34
      Posted on June 15, 2012 at 6:10pm

      It is coming and probably sooner than we think. What is funny is that all those hollywood people will be the first victims the poor will go after them first along with the stores. The dollar will have no value except to wipe your butt. This is what most of europe went through seventy years ago. American will not know what to do.

      Report Post »  
  • AvengerK
    Posted on June 15, 2012 at 2:09pm

    You just know that the OWS lefties reading this article are thinking..”Cool..how do we force Americans to resort to this also?”.

    Report Post »  
    • Hollywood
      Posted on June 15, 2012 at 2:28pm

      Uh, the OWS crowd, with backing from Soros etc, are PRESENTLY in the process of doing this! Hullo?

      Report Post » Hollywood  
    • hauschild
      Posted on June 15, 2012 at 2:35pm

      Nah, you’re giving that crowd too much credit. It’s more like…

      “Those people are idiots! What do you expect from people with no education? Damned serfs! Let us try it – can make it work! We have graduate degrees and that means we’re instantly qualified and experts on ALL subject matter. The reason why this generation has failed and every socialist generation that came before them failed, is because they weren’t as “educated” as we are. Don’t you see? Just talk to any major power player – especially about economics – and if they can’t solve a financial problem they ALWAYS defer to “our” types – the people with massive amounts of education. A la TARP, auto bailouts, EU bailouts – too big to fail – it was ALL TRUE. Just trust us – we averted disaster. Never mind the fact we cannot produce even one valid piece of supporting evidence – it would have been a disaster because “educated” people said so.”

      Yawn …

      Report Post »  
    • Jaye Byrd
      Posted on June 15, 2012 at 6:37pm

      Candles and macromai baskets aren’t goin to get the OWS very much. I wouldn’t spend three days installing a roof for worthless hippi dreamcatchers.

      Report Post » Jaye Byrd  
  • mcsledge
    Posted on June 15, 2012 at 2:09pm

    This speaks to the character of the individual. One who is willing to work for or make something in return for a good or service is a far better individual than he or she who expects another to pay their way.

    Report Post » mcsledge  
    • Dismayed Veteran
      Posted on June 15, 2012 at 2:26pm

      Good observation. The barter system can be a viable process. Who knows. If we do have a “zombie” event, we will likely end up bartering.

      Report Post » Dismayed Veteran  
    • Mike N
      Posted on June 15, 2012 at 5:05pm

      .
      I’m shocked that people are only now realizing this . . .

      There is value in goods and services, and the time will soon come when in money there is none.
      .

      Report Post »  
    • Lt_Scrounge
      Posted on June 15, 2012 at 7:11pm

      I’ve used barter with friends for years. I make what they want and they make what I want.

      Report Post »  
  • Tri-ox
    Posted on June 15, 2012 at 2:04pm

    Coming soon to Obamaville.

    Report Post » Tri-ox  
    • abbygirl1994
      Posted on June 15, 2012 at 3:02pm

      You don’t think they will really let us do that do you!! I mean they have shut down soup kitchens, or people feeding the poor! Why would they let us barter.. This is about population control.

      Report Post » abbygirl1994  
  • contkmi
    Posted on June 15, 2012 at 2:02pm

    And to think: This is the path our oppresident would have us take.

    Report Post » contkmi  
  • lukerw
    Posted on June 15, 2012 at 2:00pm

    Of course… Europe evolved over Millenia… and they have no memory of Creating Industry… so they revert to the most obvious and basic Economic System. The Utopian Dream… of Slaves servicing an Elite… promoted by Socialism… has come home to Roost!

    Report Post » lukerw  
  • progressiveslayer
    Posted on June 15, 2012 at 1:58pm

    Greece is a shining example of the success of socialism,when you run out of other peoples money this is the end result.We’re next no matter who enters the white house,too much debt and too many spineless candyass politicians unwilling to slash spending by the trillions. Oh well guess I’ll use my silver and gold to barter with since the fiat currency will be worthless.

    Report Post » progressiveslayer  
  • Cavallo
    Posted on June 15, 2012 at 1:58pm

    Good luck trying to tax a barter system.

    Report Post » Cavallo  
    • Mikev5
      Posted on June 15, 2012 at 2:09pm

      Exactly like it should be no multiple middle men mainly the government tax tax tax tax it all! We need a tax for everything under the SUN wow sounds like America the taxed to death nation we are now slaves to our government.

      How did it get so out of control if you think on how many times we get taxed its CRAZY

      Report Post » Mikev5  
    • AvengerK
      Posted on June 15, 2012 at 2:10pm

      Greeks barely paid taxes when they were employed (mostly by the government) as if they’ll consider paying taxes now?
      That’s one of Greeces intrinsic problems..getting them to actually pay taxes.

      Report Post »  
    • chips1
      Posted on June 15, 2012 at 2:16pm

      It’s been done here for at least 4 years, AND no taxes. It‘s none of the government’s business. No paperwork.

      Report Post »  

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