The Italian mayor who’s fed up with the Euro – and wants to launch a cryptocurrency instead

The mayor of Naples wants a fairer deal for his city – and he’s got a few ideas, cryptocurrency very much included…

Financial union across Europe has faced more than its share of difficulties over the past decade or two. Now? A new challenge to it has arisen from a slightly unexpected place.

Whilst it’s unlikely to be more than a pinprick of inconvenience against the euro, the mayor of Naples, Luidi de Magistris, has taken to his Facebook page to protest against “deep and vile discrimination” within Italy that “is being implemented in the political and economic choices of governments that have led our country”.

What’s more, it’d be fair to say that de Magistris has had enough. He’s now pushing for more autonomy for the city of Naples, and is arguing against the distribution of wealth within the country, that he suggests favours the north of Italy rather than the south.

He proposes a three point plan. Firstly, to make the city fully autonomous. Secondly, the cancellation of unfair debit. The third? “Implementation of an additional currency to the euro”.

This ties to previous comments he’s made about a localised cryptocurrency that would be backed by the economy of the region, and working groups for cryptocurrency and blockchain are already established within Naples.

“The right time is now”, concludes the translation of the Facebook post, that you can read in full here.

Judging by a smattering of the responses underneath his post, there’s an element of preaching to the masses about his words too. More news on Naples’ cryptocurrency as we hear it…

Image: BigStock