The BBC News is reporting that 60 shops in Mugardos (“a small fishing town in Galicia on Spain's northern coast”) are again accepting the peseta for all purchases alongside the Euro.Shopkeepers were sceptical at first, but they now say the scheme is a great success.People are travelling into Mugardos from outside just to spend the old currency they never got round to converting.
It started as a campaign to collect unused pesetas to exchange at the national bank for euros, but as the financial crisis continued to snowball with no real end in sight, the initiative took on a life of its own. Today, at least fo... Read Post
(CNN) – Ten years after the Spanish currency, the peseta, was phased out, a rural town in Spain has revolted. Against the backdrop of the ailing euro, about 30 shops in Villamayor de Santiago last month began accepting the old curre... Read Post
The Spanish town of Mugardos has started to accept pesetas again in a bid to revive the region's economy, according to the BBC. This isn't a full blown currency switch, however, with shops accepting both the euro and the peseta. The... Read Post