In a bold move the York Council has decided to turn its back on the Pound and go it alone.
A new Alexander Euro (AE) banknote has been issued with a face value of zero.
The note is now circulating in York ahead of a launch event which is scheduled to take place on Tuesday. The event has been thinly disguised as a Olympic torch bop to avoid an early run on the new currency.
It is thought that the decision of the Council, to borrow an additional £20M, prompted Kersten “Angela” England to advise that “we might as well print our own money”. Some commentators believe that the advice was misinterpreted by the Council Leader.
Council Leader James “The Greek” Alexander said his intention was to maintain good working relations with other parts of the United Kingdom – including even Selby – while maximising the benefits of the City’s successful pub economy.
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He had reluctantly allowed his image to be used on the notes following public consultation on the Councils web site, undertaken last Sunday morning between 3:00am and 3:15am, which revealed 100% support for the idea.
Opposition Leaders have poured scorn on the idea. Ian “Hand of Cameron” Gillies said, “I wouldn’t pay him in washers”
The new currency is now exchanging at a rate of 3,000,000AE to the washer.
Andy D’Agorne was dismayed, “this will be the first currency in history that, by Wednesday morning, will have a negative value. We’ll have to pay someone to recycle the notes”.