Saving the Euro: Creating Social Regional Currencies, Taxes on Financial Transactions, and Minimum Income Programs

Posted: 30 May 2013

See all articles by Leonardo Cruz Basso

Leonardo Cruz Basso

Mackenzie Presbyterian University - Business Administration

Date Written: January 2, 2013

Abstract

This paper proposes the creation of regional currencies, which we call social currencies; (pesetas, dracmas, liras, and deutsche marks); with the finality of financing minimum income programs and micro-finance programs in Europe. The backing for this currency will be Euros collected, based on the creation of taxes on regional financial transactions. Depending on the tax rate, the amount of money collected can be substantial, and can be used to buy government bonds for countries with severe funding problems.

Keywords: Tobin Tax, social currencies, Quantity Theory of Money, minimum income, basic income, taxes on regional financial transactions

JEL Classification: G10, E62, H21

Suggested Citation

Cruz Basso, Leonardo, Saving the Euro: Creating Social Regional Currencies, Taxes on Financial Transactions, and Minimum Income Programs (January 2, 2013). Available at SSRN: https://ssrn.com/abstract=2271732 or http://dx.doi.org/10.2139/ssrn.2271732

Leonardo Cruz Basso (Contact Author)

Mackenzie Presbyterian University - Business Administration ( email )

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01302-907 Sao Paulo
Brazil
+55 11 32368597 (Phone)
+55 11 32368600 (Fax)

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