diff --git app/models/project.rb app/models/project.rb
index 5063aa4..3710e03 100644
--- app/models/project.rb
+++ app/models/project.rb
@@ -445,6 +445,8 @@ class Project < ActiveRecord::Base
     @rolled_up_versions ||=
       Version.scoped(:include => :project,
                      :conditions => ["#{Project.table_name}.lft >= ? AND #{Project.table_name}.rgt <= ? AND #{Project.table_name}.status <> #{STATUS_ARCHIVED}", lft, rgt])
+    @rolled_up_versions.reject! { |version| !User.current.allowed_to?(:view_issues, version.project) } unless Setting.public_versions?
+    @rolled_up_versions
   end
 
   # Returns a scope of the Versions used by the project
@@ -465,6 +467,8 @@ class Project < ActiveRecord::Base
                                           "))")
       end
     end
+    @shared_versions.reject! { |version| !User.current.allowed_to?(:view_issues, version.project) } unless Setting.public_versions?
+    @shared_versions
   end
 
   # Returns a hash of project users grouped by role
diff --git app/views/settings/_projects.html.erb app/views/settings/_projects.html.erb
index 28fd9b5..44f13a5 100644
--- app/views/settings/_projects.html.erb
+++ app/views/settings/_projects.html.erb
@@ -14,6 +14,8 @@
 <p><%= setting_select :new_project_user_role_id,
                       Role.find_all_givable.collect {|r| [r.name, r.id.to_s]},
                       :blank => "--- #{l(:actionview_instancetag_blank_option)} ---" %></p>
+
+<p><%= setting_check_box :public_versions %></p>
 </div>
 
 <%= submit_tag l(:button_save) %>
diff --git config/locales/ar.yml config/locales/ar.yml
index 52e4949..4bdcb21 100644
--- config/locales/ar.yml
+++ config/locales/ar.yml
@@ -1087,3 +1087,4 @@ ar:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: الإجمالي
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/az.yml config/locales/az.yml
index 901df19..e70f359 100644
--- config/locales/az.yml
+++ config/locales/az.yml
@@ -1184,3 +1184,4 @@ az:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Cəmi
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/bg.yml config/locales/bg.yml
index 78fb6fe..02fd2ed 100644
--- config/locales/bg.yml
+++ config/locales/bg.yml
@@ -1084,3 +1084,5 @@ bg:
   description_date_from: Въведете начална дата
   description_date_to: Въведете крайна дата
   text_repository_identifier_info: 'Позволени са малки букви (a-z), цифри, тирета и _.<br />Промяна след създаването му не е възможна.'
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/bs.yml config/locales/bs.yml
index 50f2300..43a9855 100644
--- config/locales/bs.yml
+++ config/locales/bs.yml
@@ -1100,3 +1100,4 @@ bs:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/ca.yml config/locales/ca.yml
index f9e6a40..aba39c1 100644
--- config/locales/ca.yml
+++ config/locales/ca.yml
@@ -1089,3 +1089,4 @@ ca:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/cs.yml config/locales/cs.yml
index 81870f8..c143cc1 100644
--- config/locales/cs.yml
+++ config/locales/cs.yml
@@ -1091,3 +1091,5 @@ cs:
   field_closed_on: Uzavřeno
   setting_default_projects_tracker_ids: Výchozí fronta pro nové projekty
   label_total_time: Celkem
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/da.yml config/locales/da.yml
index 48a94fe..9e61224 100644
--- config/locales/da.yml
+++ config/locales/da.yml
@@ -1104,3 +1104,4 @@ da:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/de.yml config/locales/de.yml
index 75796c4..4260ab7 100644
--- config/locales/de.yml
+++ config/locales/de.yml
@@ -1099,3 +1099,5 @@ de:
 
   warning_attachments_not_saved: "%{count} Datei(en) konnten nicht gespeichert werden."
   label_total_time: Gesamtzeit
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/el.yml config/locales/el.yml
index ba00cae..39c200e 100644
--- config/locales/el.yml
+++ config/locales/el.yml
@@ -1087,3 +1087,4 @@ el:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/en-GB.yml config/locales/en-GB.yml
index d285440..cad5302 100644
--- config/locales/en-GB.yml
+++ config/locales/en-GB.yml
@@ -1089,3 +1089,4 @@ en-GB:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Total
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/en.yml config/locales/en.yml
index 8927d5b..70bb45a 100644
--- config/locales/en.yml
+++ config/locales/en.yml
@@ -401,6 +401,7 @@ en:
   setting_non_working_week_days: Non-working days
   setting_jsonp_enabled: Enable JSONP support
   setting_default_projects_tracker_ids: Default trackers for new projects
+  setting_public_versions: Shared versions visible to non members
 
   permission_add_project: Create project
   permission_add_subprojects: Create subprojects
diff --git config/locales/es.yml config/locales/es.yml
index 2ec4fef..ea36e48 100644
--- config/locales/es.yml
+++ config/locales/es.yml
@@ -1123,3 +1123,4 @@ es:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Total
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/et.yml config/locales/et.yml
index 0764b47..458cf01 100644
--- config/locales/et.yml
+++ config/locales/et.yml
@@ -1100,3 +1100,4 @@ et:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: "Kokku"
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/eu.yml config/locales/eu.yml
index e0aa831..2925ef3 100644
--- config/locales/eu.yml
+++ config/locales/eu.yml
@@ -1088,3 +1088,4 @@ eu:
   label_total_time: Guztira
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/fa.yml config/locales/fa.yml
index d31c1f7..b2994a3 100644
--- config/locales/fa.yml
+++ config/locales/fa.yml
@@ -1089,3 +1089,4 @@ fa:
   label_total_time: جمله
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/fi.yml config/locales/fi.yml
index 97564e7..907c075 100644
--- config/locales/fi.yml
+++ config/locales/fi.yml
@@ -1108,3 +1108,4 @@ fi:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/fr.yml config/locales/fr.yml
index dcd8cf1..eaa4bbf 100644
--- config/locales/fr.yml
+++ config/locales/fr.yml
@@ -1100,3 +1100,5 @@ fr:
   setting_repositories_encodings: Encodages des fichiers et des dépôts
   label_search_for_watchers: Rechercher des observateurs
   text_repository_identifier_info: 'Seuls les lettres minuscules (a-z), chiffres, tirets et underscore sont autorisés.<br />Un fois sauvegardé, l''identifiant ne pourra plus être modifié.'
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/gl.yml config/locales/gl.yml
index ca14126..b64da7d 100644
--- config/locales/gl.yml
+++ config/locales/gl.yml
@@ -1098,3 +1098,4 @@ gl:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/he.yml config/locales/he.yml
index c7ace5a..4881400 100644
--- config/locales/he.yml
+++ config/locales/he.yml
@@ -1092,3 +1092,4 @@ he:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/hr.yml config/locales/hr.yml
index 26274f7..07163c1 100644
--- config/locales/hr.yml
+++ config/locales/hr.yml
@@ -1088,3 +1088,4 @@ hr:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/hu.yml config/locales/hu.yml
index 4ffe751..2ab2d46 100644
--- config/locales/hu.yml
+++ config/locales/hu.yml
@@ -1106,3 +1106,4 @@
   label_total_time: Összesen
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/id.yml config/locales/id.yml
index 5dc5afe..3df6979 100644
--- config/locales/id.yml
+++ config/locales/id.yml
@@ -1091,3 +1091,4 @@ id:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/it.yml config/locales/it.yml
index e545955..0efeb85 100644
--- config/locales/it.yml
+++ config/locales/it.yml
@@ -1088,3 +1088,4 @@ it:
   field_closed_on: Chiuso il
   setting_default_projects_tracker_ids: Tracker di default per nuovi progetti
   label_total_time: Totale
+  setting_public_versions: Versioni condivise visibili a non membri
diff --git config/locales/ja.yml config/locales/ja.yml
index bbf9754..82d09e2 100644
--- config/locales/ja.yml
+++ config/locales/ja.yml
@@ -1116,3 +1116,5 @@ ja:
   field_inherit_members: メンバーを継承
   field_closed_on: 終了日
   label_total_time: 合計
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/ko.yml config/locales/ko.yml
index eeec637..2492b33 100644
--- config/locales/ko.yml
+++ config/locales/ko.yml
@@ -1136,3 +1136,5 @@ ko:
   field_closed_on: 완료일
   setting_default_projects_tracker_ids: 새 프로젝트에 기본적으로 추가할 일감 유형
   label_total_time: 합계
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/lt.yml config/locales/lt.yml
index e3522dc..e422247 100644
--- config/locales/lt.yml
+++ config/locales/lt.yml
@@ -1146,3 +1146,5 @@ lt:
   label_total_time: Iš viso
   text_scm_config: Jūs galite pakeisti SCM komandas byloje config/configuration.yml. Prašome perkrauti programą po redagavimo, idant įgalinti pakeitimus.
   text_scm_command_not_available: SCM komanda nepasiekiama. Patikrinkite administravimo skydelio nustatymus.
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/lv.yml config/locales/lv.yml
index 9c3de74..364039a 100644
--- config/locales/lv.yml
+++ config/locales/lv.yml
@@ -1081,3 +1081,4 @@ lv:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/mk.yml config/locales/mk.yml
index 61b219c..bc3c835 100644
--- config/locales/mk.yml
+++ config/locales/mk.yml
@@ -1087,3 +1087,4 @@ mk:
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_footer: Email footer
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/mn.yml config/locales/mn.yml
index 3598693..d5b2641 100644
--- config/locales/mn.yml
+++ config/locales/mn.yml
@@ -1088,3 +1088,4 @@ mn:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/nl.yml config/locales/nl.yml
index 6afc237..801fdd3 100644
--- config/locales/nl.yml
+++ config/locales/nl.yml
@@ -1068,3 +1068,4 @@ nl:
   setting_default_projects_tracker_ids: Standaard trackers voor nieuwe projecten
   label_total_time: Totaal
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/no.yml config/locales/no.yml
index e2249c5..74cbb70 100644
--- config/locales/no.yml
+++ config/locales/no.yml
@@ -1077,3 +1077,4 @@
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Totalt
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/pl.yml config/locales/pl.yml
index c9ff4dd..d19faf0 100644
--- config/locales/pl.yml
+++ config/locales/pl.yml
@@ -1108,3 +1108,4 @@ pl:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/pt-BR.yml config/locales/pt-BR.yml
index 0752e84..a9e7ad6 100644
--- config/locales/pt-BR.yml
+++ config/locales/pt-BR.yml
@@ -1107,3 +1107,5 @@ pt-BR:
   field_closed_on: Fechado
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Total
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/pt.yml config/locales/pt.yml
index 5deff0a..2dc973b 100644
--- config/locales/pt.yml
+++ config/locales/pt.yml
@@ -1093,3 +1093,5 @@ pt:
   field_closed_on: Fechado
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Total
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/ro.yml config/locales/ro.yml
index 6f72e7b..5f91367 100644
--- config/locales/ro.yml
+++ config/locales/ro.yml
@@ -1082,3 +1082,4 @@ ro:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/ru.yml config/locales/ru.yml
index 634b577..f57082a 100644
--- config/locales/ru.yml
+++ config/locales/ru.yml
@@ -1197,3 +1197,5 @@ ru:
   field_closed_on: Закрыта
   setting_default_projects_tracker_ids: Трекеры по умолчанию для новых проектов
   label_total_time: Общее время
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sk.yml config/locales/sk.yml
index f8924c8..7ffec0b 100644
--- config/locales/sk.yml
+++ config/locales/sk.yml
@@ -1084,3 +1084,4 @@ sk:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sl.yml config/locales/sl.yml
index 8c6e22b..7b858d9 100644
--- config/locales/sl.yml
+++ config/locales/sl.yml
@@ -1087,3 +1087,4 @@ sl:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Skupaj
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sq.yml config/locales/sq.yml
index 05e5a6f..962c943 100644
--- config/locales/sq.yml
+++ config/locales/sq.yml
@@ -1083,3 +1083,4 @@ sq:
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_footer: Email footer
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sr-YU.yml config/locales/sr-YU.yml
index 3b53e6e..1e11bed 100644
--- config/locales/sr-YU.yml
+++ config/locales/sr-YU.yml
@@ -1089,3 +1089,4 @@ sr-YU:
   label_total_time: Ukupno
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sr.yml config/locales/sr.yml
index f5573c9..9533d38 100644
--- config/locales/sr.yml
+++ config/locales/sr.yml
@@ -1088,3 +1088,4 @@ sr:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/sv.yml config/locales/sv.yml
index c124e2e..01c8c41 100644
--- config/locales/sv.yml
+++ config/locales/sv.yml
@@ -1125,3 +1125,5 @@ sv:
   description_date_from: Ange startdatum
   description_date_to: Ange slutdatum
   text_repository_identifier_info: 'Endast gemener (a-z), siffror, streck och understreck är tillåtna.<br />När identifieraren sparats kan den inte ändras.'
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/th.yml config/locales/th.yml
index a7e1255..feab880 100644
--- config/locales/th.yml
+++ config/locales/th.yml
@@ -1084,3 +1084,4 @@ th:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/tr.yml config/locales/tr.yml
index 757af1a..9e9c7bc 100644
--- config/locales/tr.yml
+++ config/locales/tr.yml
@@ -1106,3 +1106,4 @@ tr:
   label_total_time: Toplam
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/uk.yml config/locales/uk.yml
index ddfd3ff..52ceac0 100644
--- config/locales/uk.yml
+++ config/locales/uk.yml
@@ -1082,3 +1082,4 @@ uk:
   text_scm_config: You can configure your SCM commands in config/configuration.yml. Please restart the application after editing it.
   text_scm_command_not_available: SCM command is not available. Please check settings on the administration panel.
   setting_emails_header: Email header
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/vi.yml config/locales/vi.yml
index 8703db8..a28f16e 100644
--- config/locales/vi.yml
+++ config/locales/vi.yml
@@ -1140,3 +1140,5 @@ vi:
   field_closed_on: Đã đóng
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: Tổng cộng
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/zh-TW.yml config/locales/zh-TW.yml
index 196b0ce..bdbf452 100644
--- config/locales/zh-TW.yml
+++ config/locales/zh-TW.yml
@@ -1169,3 +1169,5 @@
   description_date_to: 輸入結束日期
   text_repository_identifier_info: '僅允許使用小寫英文字母 (a-z), 阿拉伯數字, 虛線與底線。<br />一旦儲存之後, 代碼便無法再次被更改。'
   label_total_time: 總計
+
+  setting_public_versions: Shared versions visible to non members
diff --git config/locales/zh.yml config/locales/zh.yml
index cb358c2..e93d62f 100644
--- config/locales/zh.yml
+++ config/locales/zh.yml
@@ -1091,3 +1091,4 @@ zh:
   field_closed_on: Closed
   setting_default_projects_tracker_ids: Default trackers for new projects
   label_total_time: 合计
+  setting_public_versions: Shared versions visible to non members
diff --git config/settings.yml config/settings.yml
index 0c9f270..1fd232b 100644
--- config/settings.yml
+++ config/settings.yml
@@ -230,3 +230,5 @@ non_working_week_days:
   default:
   - '6'
   - '7'
+public_versions:
+  default: 1