Discussion: Remove the SCUE from the SC.

[Kaiseress Anandja II]

Really? This is pretty similar to the EMU. We have a central bank. It doesn't set interest rates, but that's because we don't really have a financial sector or banks. We're trying to remove the having to join the EU (SC) hurdle here.

[Erik Mortis]

Thus making the SC part of SCUE obsolete.

[Jonas]

Really? This is pretty similar to the EMU. We have a central bank. It doesn't set interest rates, but that's because we don't really have a financial sector or banks.

I dislike this view. It should be a system, not an organisation.


There are a lot of differences, you just confirmed one ( ):

We're trying to remove the having to join the EU (SC) hurdle here.

Err.. and it doesn't really matter (are we going to debate differences or what's really mattering? ): the point is that I personally advise using the old SCUE, like planned before.

[Andreas the Wise]

How about just Shared Currency Treaty or Unified Economy Treaty? Then it doesn't sound like an organisation, which is, of course, what we're trying to avoid.

[Kaiseress Anandja II]

I like it when you can say an abbreviation like a word. SCUE is good. SCT or UET isn't. How about... Shared Currency Area, SCA (stretching it a bit, but hey). Or perhaps the one you said, Shared CUrrency Treaty, SCUT?

[Erik Mortis]

Unified Economy Convention would get my support...

[Erik Mortis]

Anyone still have thoughts on this?

[CJ Miller]

Unified Finance Convention. :P

[Malliki Tosha]

Nevermind the name. Just split it, continue to call it the SCUE, and then change the name later.

[Erik Mortis]

Works for me.

[Erik Mortis]

So, if there are no other comments on the content... I'll ask the representatives for a vote on the following.

Small Commonwealth Unified Economy Treaty

1. Any nation may sign this Simple Currency Unified Economy Treaty, provided they gain approval from existing signatories.

2. An applicant to this treaty shall be considered by existing signatories. If, within a week, no existing signatory objects, the new nation shall be able to sign this treaty and issued starting currency as explained below.

3. All signatories to this treaty have a unified currency, and share a unified bank. Any participant in the economy of a signatory nation may make economic transactions with participants of any other signatory nations without restrictions, fees or tariffs.

4. Each signatory nations reserves the right to refer to the currency by whatever name they want. This does not make their currency different from the unified currency, and all the names are assumed to have a 1:1 exchange ratio.

5. Participants within this unified currency shall register their accounts in a particular signatory nation, or region thereof. By registering with that nation, participants' accounts are subject to any economic regulation or taxation of that nation, but not of any other nation.

6. No currency can be created or destroyed by the signatory nations, except in the manner outlined here and in section 7. Each new signatory nation is entitled to create currency for an initial distribution among citizens of that country, under the following conditions:
a. They shall count how many citizens they have who do not currently hold accounts via any existing signatory nation.
b. They shall be entitled to 7,500 units of currency per citizen counted in this manner, to be distributed as they see fit.

7. In addition to section 6, the member nations may authorize a special, once-off creation or destruction of currency if 2/3 of all member nations agree.

8. There shall be an administrator of the bank, with the power to change the region of accounts as required; to create currency for new signatory nations; and to enforce taxation.

9. This administrator shall be elected by the signatory nations. At any time the administrator may be removed by a 2/3 vote of no confidence in the administrator, at which time a new administrator shall be elected by the signatory nations.

10. Should a signatory nation withdraw from this treaty, due to death or otherwise, all currency held in accounts registered in that nation shall be removed.

11. This treaty may be amended with the approval of a majority of all member nations.

[Harald of Froyalan]

Stormark votes Aye.

[Daniel Farewell]

*cough* WAIT!

[AryezturMejorkhor]

Antica votes AYE.

[Erik Mortis]

Yes Ric?

[Jonas]

Most of the Batavians are on holiday now, so you would have to wait for their vote.

[Erik Mortis]

I'll give this a week or so.

[Daniel Farewell]

Never mind, I just want this to do be done legally -- ratified by the member states through their constitutional procedures, so that there is no question about its legality.

[Erik Mortis]

That's why I'm giving it time.

[Jonas]

That's why I'm giving it time.

Thank you, but I'm afraid you couldn't have chosen a worser time: the majority of the Lagerhuis (and government) is on holiday and when they return, there will follow elections. I'm afraid that Batavia will not have the opportunity to vote over this before the 9th August.
But perhaps they return just in time. Will post this in the Lagerhuis.

[Andreas the Wise]

For Gralus, I vote AYE, though should it still be titled "Small Commonwealth Unified Economy Treaty"?

[Erik Mortis]

sorry. I meant for it to be that. Ignore the title.

[Andreas the Wise]

Even if the Batavians can't vote, how about some of the other nations? We've had Stormark, Antica and Gralus; apart from Batavia, we still need a vote from Shireroth, Nelaga and Natopia. I'll get onto Nelaga and Natopia.

[Nathan of Natopia]

Natopia votes AYE

[Kaiser B'caw I]

Shireroth votes AYE.

[Harvey Steffke]

Andreas, true to his word, started a topic in Nelaga about the issue. I should have a response for you in a couple days, after our voting procedure has concluded. Thank you for your patience.

[Harvey Steffke]

Nelaga AYE

[Erik Mortis]

Do we think anyone else will bother to vote?

[Andreas the Wise]

It's not a matter of waiting for people to bother to vote. Everyone except Batavia have voted, and Jonas told us Batavia would take more than a week more before getting their parliament in order to vote; so we should be good now.

[Erik Mortis]

Then.. the SCUE no longer requires the SC and a few other fixes!