PROBLEMS OF LOCAL CURRENCIES IN CONTEMPORARY EUROPEAN UNION AND RUSSIA

Abstract

Objective: This article is devoted to analysis of local currencies in the EU and the Russian Federation. Discussion: Regional currencies become one of the consequences of regionalization of economy, rise and development of alternative regional identities. European and Russian experience of local emissions are analyzed in the article. The role of local emissions in the development of regional economy and stabilization of regionalized forms of identity is also discussed. Results: The author presumes that European Union has considerable experience of local emissions. The problems of local emissions are legislatively resolved. Different regions use their rights to emitate local currencies. Problems of regional emissions are not legalized inRussia. Regional emissions inRussia have a special character, and status of the local currency is controversial.