3  ALTERNATIVES TO MONEY IN THE FORM OF EURO BANKNOTES AND DEPOSIT LIABILITIES AT CENTRAL BANKS AND COMMERCIAL BANKS  So far, I have been talking about central bank money which is being provided in the form of banknotes and deposit liabilities in euro.
But any type of money can potentially be created and issued by for example private entities, as long as it allows in one way or another to fulfil the main functions of money. Let us call these types of money alternative money (in the sense that they are an alternative for both central bank money and for deposits in euro at commercial banks’ accounts).