The city of Paul, the Octopus, is in danger. Oberhausen, a city located in the German state of North Rhine-Westphalia, has gone broke. The city has debts of $2.4 billion that needs to be paid off. To curb the problem, the city is printing its own currency.
The idea to print its own currency is given by the Hamburg theater group. The performers of the theater group will be launching a new currency and will christen it as Khole.
According to organizers of the theater, the aim is not to replace the euro. Instead, the "coal" is intended to complement the existing currency and create a sense of community. "Poverty makes people lonely," says one performer. "It makes one unable to take part in society." The groups hope that the new currency will promote a "stronger group dynamic."
The introduction of this new currency will certainly bring hope for the city's debt-ridden economy.