European Standard Bank
The European Standard Bank is an independent complementary currency system in Panama that serves small and medium-sized businesses worldwide. It exists only as a bookkeeping (Private Direct Clearing) system, with advanced scrip, to facilitate transactions. To open account with European Standard Bank, a reference from any of its clients is necessary.
European Standard Bank was founded in 2004 by idea of businessmen Paul Tergeist as a result of prediction currency shortages and financial market crash in nearest 5 years. The founder had been influenced by German libertarian economist Silvio Gesell; however, the European Standard Bank renounced Gesell's "free money" theory, opening the door to monetary interest.
The European Standard Bank is a for profit financial institution. But It serves the interest of the clients, not the bank itself. It is a very stable system, not prone to failure as the current banking system is. It remains fully operational even in times of general economic crisis. European Standard Bank may have contributed to the remarkable stability of the World economy, as it dampens downturns in the business cycle.
External links
ru:European Standard Bank