Gure Moneta
Gure Moneta is a local currency being set up for the southern Basque Country. People will swap euros one for one for paper notes and an app balance, then spend them at shops that join the scheme. The first two areas are Oarsoaldea in Gipuzkoa and Baztan in Navarre, with circulation planned for the last quarter of 2026. The organisers include the association that runs the eusko in the northern Basque Country, the municipal network Udalbiltza, the rural development agency Cederna-Garalur and five town councils. They are asking the public to design the notes, and they need 1,000 supporting members before launch.
A well-backed Basque local-currency project still in its organising phase, strong on community ownership and weak on every measure that needs a live currency.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x3.0
Raw category average 3.4, rounded to 3. IM-01 3: units are issued on demand when anyone exchanges euros, through offices the association controls. IM-02 5: nothing is borrowed into existence. IM-03 2: issuance tracks euro deposits, not local output. IM-04 3: supply follows euro demand with no published cap or economic trigger. IM-05 4: reconversion to euro retires units.
Spending Power Stability2x2.0
Weighted 1.9, rounded to 2. SPS-01 3: stability comes from full euro backing and convertibility, with no other mechanism. SPS-02 2: the benchmark is the euro. SPS-03 2: no reserve-reporting policy has been published. SPS-04 1: nothing has circulated yet. SPS-05 2: the design does not distinguish daily stability from long-run purchasing power. SPS-06 1: it will only work in two comarcas.
Fiat Independence & Interoperability2x2.0
Weighted 1.8, rounded to 2. FI-01 1: pegged one for one to the euro. FI-02 1: reserves are euros. FI-03 2: the reserve fund needs bank accounts. FI-04 2: value is stated in euros throughout. FI-05 2: a euro crisis passes straight through. FI-06 2: euro backing is the permanent design. FI-07 3: it is itself a local expression, and compatibility with the eusko across the Pyrenees is a stated goal rather than a built standard. FI-08 2: that compatibility is planned, not specified.
Traction2x2.0
Weighted 2.4, rounded to 2. TR-01 3: the organisation is working, the currency is not circulating. TR-02 2: organising since 2024, presented publicly on 2026-02-25 with a Baztan event on 2026-03-07. TR-03 1, TR-04 1 and TR-05 1: no members spending, no merchants signed publicly and no pricing in the unit yet. TR-06 5 and TR-07 5: a live coalition of the eusko association, Udalbiltza, Cederna-Garalur, five town councils, cooperatives, unions and foundations. TR-08 3: Spanish and Basque press covered the note-design consultation on 2026-08-04. TR-09 5: citizen-led with no incentive scheme. TR-10 3: the membership drive stood at 17 percent of its 1,000 target in early August 2026, which leaves the fourth-quarter launch tight. TR-11 4: the pitch is Basque language, local economy, environment and social justice, and it is coherent.
Sovereignty2.0
Weighted 2.0, rounded to 2. SO-01 2: the promoting association can stop it. SO-02 2: paper notes plus an app, with no open-source commitment published. SO-03 2: Spanish law, across two autonomous communities. SO-04 2: the association holds the euro reserve. SO-05 4: a wide coalition rather than one founder. SO-06 2: it will depend on an app provider and a bank. SO-07 2: membership is a condition of use. SO-08 3: the notes are as private as cash, the app is not. SO-09 1: the rules are statutes with no technical enforcement.
Governance3.0
Weighted 3.0. GO-01 3: association governance with public assemblies, still being built. GO-02 4: one member one vote across a 1,000-member target. GO-03 4: presentations are public and the note design went out to open consultation. GO-04 4: a membership association is hard to buy. GO-05 3: statute changes go to the assembly. GO-06 2: no separation between currency rules and operations. GO-07 3: stated values in the founding documents, amendable. GO-08 2: the association can change the issuance rule.
Resilience2.0
Weighted 2.3, rounded to 2. RE-01 1: it has never been tested. RE-02 2: one small organisation with one app. RE-03 2: no recovery plan published. RE-04 5: exchange euros, spend notes, that is the whole design. RE-05 4: paper survives any technology change and the app is replaceable. RE-06 3: full backing means a run just converts back, but the reserve has to be there. RE-07 2: it needs 1,000 paying members before it can even start. RE-08 4: notes work with no connectivity at all. RE-09 1: no machine participation.
Inclusivity4.0
Weighted 3.6, rounded to 4. IN-01 2: two comarcas, members only. IN-02 4: one for one with the euro and a small membership fee. IN-03 3: it targets local commerce and includes rural Baztan. IN-04 5: the benefit stays with local shops and members, with no insider allocation. IN-05 5: the same rules for everyone. IN-06 3: joining means giving a name and address. IN-07 3: nothing concentrates and nothing pays yield.