Summary report of the Ogham Bond Project, Arranmore Island 2013

The local currency project on the island of Arranmore was closed on the 28^th September 2013 and the local businesses cashed in their Ogham Bonds for Euro’s. The summer experiment was to examine if there is a willingness, support and need for a local currency on the island. The plan was that this initiative would deepen the understanding of economy for communities through education.

The project developer, Dr Shirley Gallagher told ‘An Charraig’ ‘that the project was a triumph in many ways. It showed the ability of the islanders to trust me, the project as well as each other.’ When speaking to Jerry Early, a local publican on the topic he exclaimed ‘of course we would support it, sure you are one of our own’.

The quirky nature of the project allowed people to think outside the box and explore uncharted territories. By empowering the community and having open and frank conversations, it raised awareness of the current situation following the financial crash of 2008 and the ongoing recession.’