WASHINGTON 鈥� You鈥檝e heard the expression 鈥渂reaking a $20鈥�? Well, in a remote region of Quebec, they鈥檙e doing just that.
In the Gaspe region of Quebec, in northeastern Canada, residents are taking $5, $10 and $20 bills and cutting them in half 鈥� a monetary innovation they鈥檙e calling the 鈥渄emi鈥� (French for 鈥渉alf鈥�). And local merchants are accepting the bills at half value, .
Michelle Secours, a business owner from Caplan, says the demi is a sign of commitment to local businesses, since they鈥檙e the only ones who will take them: “You have to be kind of in the know to use it, so it’s creating a tight network. It’s not going to be accepted in a depanneur in Montreal, so it’s a way for us to consolidate our money here.”
The Bank of Canada says the idea isn鈥檛 illegal, but they don鈥檛 like it. They call the bills 鈥渁 symbol of our country and a source of national pride,鈥� and that to cut them up is 鈥渋nappropriate.鈥� They also can refuse to replace a cut bill if they think it was done deliberately.
Some Gaspe residents don鈥檛 seem to care. Martin Zibeau, of Saint-Simeon, says he knows at least a dozen people who use the demi, and says it鈥檚 鈥渇unny.鈥�
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