NATION

PASSWORD

NS World News- Your nation's news

Where nations come together and discuss matters of varying degrees of importance. [In character]

Advertisement

Remove ads

User avatar
Drongonia
Ambassador
 
Posts: 1778
Founded: Feb 11, 2019
New York Times Democracy

Postby Drongonia » Tue Aug 24, 2021 10:15 pm

Image

Drongonia to accept up to 5,000 LGBT refugees from Afghanistan following Taliban takeover
Christchurch, Drongonia
August 25, 2021 | Amy Basinger


Taliban leaders addressed the public from Kabul this week. Photo: // Sky News UK
Image

Despite strong opposition from People's Front as well as the conservative faction of the ruling National Party, Parliament has passed a resolution to allow up to 5,000 at-risk Afghanistani refugees to resettle in Drongonia over the next five years in an unprecedented shakeup of the nation's refugee quota.

Presently, just 250 refugees are accepted into Drongonia per year. This number was previously as high as 5000, but was drastically reduced when Prime Minister English and the National Party came to power in 2017. Additionally, the Ministry of Immigration recently reported that just 12% of all refugees allowed entry into Drongonia since 2018 are from the "Middle East and North Africa" geographic area, with the vast majority being White South African farmers. Additionally, the intake of refugees has been halted by the Government, citing COVID-related concerns.

This, however, is set to change under the new Labour-proposed plan which passed its third reading in Parliament today. The radical plan would raise the refugee quota to 1,500 per year for the next five years, with 1,000 of those refugees being from Afghanistan. The plan also includes rules designed to specifically cater to those most at risk of oppression from the Taliban. Particular at-risk groups mentioned in the new plan are "outspoken women", "anti-Taliban activists", "any individuals who assisted Western nations during the Afghanistan campaign" and "LGBTQ+ individuals". The plan, officially titled as the Refugee Resettlement Bill 2021, passed its third Parliamentary reading 64-56, with its passage owing to several National MPs "going rogue" to vote in favour of the Bill.

Labour leader Sarah Ellice appeared elated as she talked to media outside Parliament today, proclaiming that the passage of this legislation "is a massive win for human rights in both Afghanistan and Drongonia, particularly for vulnerable women and LGBTQ+ people who are being denied the basic right to be who they are." Prime Minister Bill English, who voted against the plan, said in a statement that he was "...shocked and disappointment that my colleagues in the House would vote for legislation designed to completely unwind integral parts of our immigration and security reforms."

Critics of the plan have been quick to highlight that there are no specific provisions pertaining to how the Drongonian Government will receive refugees from Afghanistan, as it is unlikely that the governing Taliban will allow the potential refugees to peacefully leave the country of their own accord, even to board diplomatic flights. Additionally, the shared South Pacific Embassy, where Drongonia's diplomats were located, was evacuated shortly after the US began its troop withdrawal from Afghanistan a fortnight ago.

The shared South Pacific Embassy housed diplomats from Drongonia, Cancolastan, Norcott, New Zealand, Australia and Aushweizland but has been abandoned. The Ministry of Foreign Affairs has not responded to an Official Information Act request from TVDG regarding the potential financial and security costs of equipment and intelligence information left behind during the evacuation. Additionally, the Ministry did not respond to a request for comment regarding the possibility of further emergency evacuations in Afghanistan.



Top Comments (0)
Comments have been disabled on this article.
Last edited by Drongonia on Tue Aug 24, 2021 10:15 pm, edited 1 time in total.
Republic of Drongonia | The conservative MT powerhouse of the South Pacific. | Drongonia's Index Index! | Note to me: remember to catch up on the IDI/IFI, dummy

News via TVDG: COVID vaccine rollout scaled back after less than 30% uptake | 5k LGBT Afghan refugees to be accepted following Taliban takeover | Navy entered NZ waters illegally over 100 times in 2020, report
Factbooks: Overview | Political Parties | Our Leader | Defence Force Info | OOC Info | [NEW!] Faces of Drongonia
Cavirfi wrote:It's nice to see someone who acts as an RP Census Man. Where is measuring statistics when we need it?

User avatar
Drongonia
Ambassador
 
Posts: 1778
Founded: Feb 11, 2019
New York Times Democracy

Postby Drongonia » Tue Sep 28, 2021 1:34 am

Image

COVID vaccine rollout to be scaled back following less than 30% uptake
Christchurch, Drongonia
September 28, 2021 | David Fitzroy


Prime Minister English announced the changes to media today, flanked by Ministry of
Health officials. Photo: // TVDG

Image

Prime Minister Bill English, flanked by Minister of Health Leah Driver, Deputy Prime Minister Simon Baker and members of the Ministry of Health's epidemiology team, announced that "radical changes" to the way Drongonia rolls out its COVID-19 vaccinations are on the way.

The most notable change is centred around reducing the amount of online, print, physical, radio and television advertising encouraging Drongonians to be vaccinated. Figures released by the Ministry of Health last week estimate that the "Get Drongonia Vaccinated" advertising campaign has cost almost $250,000,000 since it began earlier in the year. Additionally, no further reminders will be sent to those who have yet to book their vaccination. Since the rollout, every Drongonian who has an address registered with either the Ministry of Health or the Ministry of Social Services has received at least one letter urging them to get vaccinated. Those with a mobile phone number have also been sent an SMS message at least once.

As of September 28 2021, Drongonia has vaccinated just 18.7% of its population against COVID-19, with a further 9.2% of the population either being booked in via the Ministry of Health or a GP to be vaccinated or having had their initial vaccination deferred for medical reasons. This means that the majority of Drongonians will likely remain unvaccinated against COVID-19 and its variants for the foreseeable future, unless the Government changes its vaccination plans to include a wider scope of mandatory vaccination roles.

Initially, the Government had aimed to have 75% of the adult population vaccinated by Christmas, with the ultimate 85% target aimed to be reached near St. Patrick's Day 2022. As of today, the Government has abandoned the targets and is instead urging individuals who believe themselves to be at risk of COVID, or who would simply like to be vaccinated, to come forward and book an appointment at their a vaccination centre or their local General Practitioner.

Drongonia's vaccine rollout has been labelled by opposition parties as "a complete failure", with Labour's Sarah Ellice saying that the rollout was "a complete joke." Ellice went on to tell host of NRD's morning show, Michael Wilson, that "...it [the vaccine] should have been mandatory from the start. Less than 30% vaccination against a deadly virus, where we're using a thoroughly tested vaccine, is simply unacceptable and I implore the Government to change its stance and pull anti-vaxxers into line." It is understood that Ellice has not been vaccinated against COVID-19.

The single-dose Drongonia-developed nCOV-UCR vaccine has a refrigerated shelf life of up to six months, meaning that the Government will soon be forced to make a decision regarding what to do with the excess doses that GPs and vaccination centres are currently holding on to. Ministry of Foreign Affairs spokeswoman Samantha Trapp said in a statement released today that "it seems likely that the unused vaccines will make their way into the Pacific Islands, where they'll almost certain to be used before they expire."



Top Comments (0)
Comments have been disabled on this article.
Last edited by Drongonia on Tue Sep 28, 2021 1:34 am, edited 1 time in total.
Republic of Drongonia | The conservative MT powerhouse of the South Pacific. | Drongonia's Index Index! | Note to me: remember to catch up on the IDI/IFI, dummy

News via TVDG: COVID vaccine rollout scaled back after less than 30% uptake | 5k LGBT Afghan refugees to be accepted following Taliban takeover | Navy entered NZ waters illegally over 100 times in 2020, report
Factbooks: Overview | Political Parties | Our Leader | Defence Force Info | OOC Info | [NEW!] Faces of Drongonia
Cavirfi wrote:It's nice to see someone who acts as an RP Census Man. Where is measuring statistics when we need it?

User avatar
Free Stalliongrad
Envoy
 
Posts: 312
Founded: Jun 01, 2020
Scandinavian Liberal Paradise

Postby Free Stalliongrad » Mon Oct 18, 2021 2:05 pm

October 18, 1009 ALB
1 STB



Image



THE GOVERNMENT CELEBRATES THE VICTORY OF STATE ATHEISM
Fewer and fewer ponies believe in the deification of the Alicorn Princesses. The government declares: "An excellent goal for the complete liberation of the country".




Image
An old Anti-Princess Mural

Great celebrations took place in the halls of the Supreme Soviet today. In fact, the National Census Office has confirmed that a large part of the population of Stalliongrad has stopped believing in the deification of the former rulers of Severnaya: Princess Celestia and Princess Luna.

Although the ponies of Stalliongrad no longer regarded the two princesses as their rulers after the Revolution, many continued to view them in a form of strange deification that still seems to plague the lands of Equestria.
For many years, in fact, this has been a problem that has been debated many times in the leadership of the Stalliongradian Communist Party and several proposals have been considered to eradicate these old superstitions. From using the iron fist, proposed by Comrade Sinister Serov, to the increase in funds for school education and the intensive teaching of state atheism, wanted by Comrade Altidiya Revoltsova. The latter seems to have prevailed thanks to the activity of Comrade Altidiya Revoltsova within the Supreme Soviet. Activity that has doubled since she was appointed General Secretary of the Party.

Reached by the reporters, Comrade General Secretary said: "I am happy that many more of our comrades have finally been able to open their eyes and abandon the old Equestrian stories. But I am even happier to show that patience pays off and extreme positions have not been used to show the Truth of Socialism.
With 98% of the Stalliongradian population we have achieved another goal left to us by Caramel Marks. The atheization of the proletarian state, in fact, is necessary if we want to stop depending, even if only mentally, on old millenary legends. Because only in this way can each of us make their own egalitarian contribution to build Socialism and help in the World Revolution".




Picture of: Ulyanovetz
Last edited by Free Stalliongrad on Mon Oct 18, 2021 2:14 pm, edited 1 time in total.

User avatar
Graintfjall
Ambassador
 
Posts: 1045
Founded: Jun 30, 2020
Capitalist Paradise

Postby Graintfjall » Thu Dec 02, 2021 9:26 am

Article from the news magazine The New Week National Atlantic News Spectating Economist Time Man.
    In A Mere Tangy Republic, One Stargazer’s Visit Raises Eyebrows

    Image
    Kaija Michaelsdóttir making the case for the GANAX Cosmodrome

    And what lovely eyebrows they are. Kaija Michaelsdóttir*, Foreign Minister of the White Winter Queendom of Græntfjall and leader of the Progressive Liberal party, is enjoying her moment in the sun. Ahead of the forthcoming Dannin Transport & Innovation Expo, Michaelsdóttir is in tropical Mont Vert, far from the snowbound ice realm from which she hails. Mont Vert, a former Græntfjaller colony, is an island archipelago of palm trees and white sand beaches; during her visit, Michaelsdóttir has visited the street markets, attended the opening of a new primary school, and delivered a speech during which she issued a statement of regret – while stopping short of a long-called-for apology – for Græntfjall’s historic role in the slave trade that once darkened the clear blue skies of these small islands. Tomorrow she will participate in the ribbon-cutting for a new fire station, donated by Græntfjaller Catholic charities, before leaving from Port-à-Princesse International Airport on a journey to the east: to Mertagne, in northern Calania. After several days of light duties enjoying the tropical balm, this is where her real mission will begin. And with it, she will not only seek to open up a new chapter of relations between Græntfjall and Anaia – but also, it is being whispered back home between Hvítursalur opinion-makers, kick off her campaign to become Græntfjall’s next prime minister.

    In 2023, Michaelsdóttir led her party to the highest vote share, but in Græntfjall’s mixed system, this still did not translate to the largest share of seats in the Thing, as the Left-slate coalition gained a larger share of FPTP constituency seats. Coming first in the people’s hearts was scant consolation for finishing second overall and being forced to accept a role as junior coalition partners to the Left-slate in government. Though Michaelsdóttir secured the prestigious Foreign Ministry role for herself – a role she had previously filled under the outgoing Blue-Green government of David Austmannsson – many of her party’s priorities were thrown by the wayside. Græntfjall’s subsequent recession – the result, according to various strains of analysis, of either a correct market reaction to socialist overreach by the incoming government, economic sabotage waged by big business to undermine the democratic people’s will, or just the natural fluctuation of the business cycle – further inhibited bold government action.

    That changed in 2025, when the Kitaran Crisis broke out on Græntfjall’s southeast border. The brutal civil war that literally pitted sister against brother as Boaz Akongo’s feuding children fought for control of the communist dictatorship Nyowani Kitara severely weakened Zóphonías Juliusson’s government, with his unwillingness to take a side seen as dithering and his repeated calls for an unconditional ceasefire roundly ignored by all parties. 2 million refugees poured over the border, and while Eura freely exerted its military power over the Pavolan subregion, Juliusson remained seized by indecision. The vicious, unhinged racism of Græntfjall’s tabloid press did little favors in presenting a fair and accurate portrait of the true situation on the ground to the Græntfjaller people. It was in this bubbling cauldron that Michaelsdóttir adroitly positioned herself, like a bayleaf surfing a very mixed metaphor. Negotiating a trade deal with Bollonich that ended decades of cold war animosity and included a provision to rehouse hundreds of thousands of refugees, carving out a deal with separatist rebels to deliver Gustav Isaksson, architect of the failed buttbuttination plot against Malik Akongo, to Græntfjaller custody for war crimes trial, and engineering a skilfully cynical PR effort to promote refugee support using Princess Jessika and football star Jason Þórhallursson, Michaelsdóttir’s approval ratings soared as high as Juliusson’s plummeted.

    It is with this wave of popular support behind her that she will arrive in Mertagne, where she will attend the Dannin Transport & Innovation Expo. Officially, her mission has two components: first, to initiate discussions between Græntfjall and the nations of Anaia, severally or through the AUNTIE interregional bloc, about trade treaties and economic access agreements; second, to help pitch the GANAX Cosmodrome, which is aiming to become one of the largest commercial spaceflight launch hubs in the Rushmore region. But unofficially, close observers of Michaelsdóttir say, the choice of a transport expo is far from incidental, given her party’s history: it was over the regional infrastructure and transport bill that her support for the Blue-Green government coalition fractured, and transport issues have continued to drive wedges between her Progressive Liberal bloc and her Left-slate partners. Dannin, then, may be a perfect location for Michaelsdóttir to strike the first blow in the 2027 election campaign. Manda Michaelsdóttir [no relation], chief political correspondent for GTV, says: “She’s scheduled to give a speech about gazing to the heavens, but I wouldn’t be surprised if there are some remarks in there that are very much tuned to the audience back home on the ground.”

    After decades of economic isolation during the Union years of communist repression, Græntfjall’s economy has rapidly grown in the last three decades, with successive governments seeking to balance removing barriers to trade with retaining hard-won independence. “[Kaija] Michaelsdóttir has always been a zealous free trader,” says Helmút Greppsson of the Snowpiercer Institute, a pro-trade think tank and lobby group. “I think she’d regard this trip as a failure if she didn’t leave having at least got trade talks underway.” Left-slate MT Karolína Svangeirsdóttir urges caution, however: “Anaia is home to some huge and ancient economies. Exposing Græntfjaller industries to an unregulated race to the bottom could be calamitous.” Mr Greppsson’s response was to repeatedly bang his head on his desk and sob into his beard wondering why no one understands trade policy. Háttmark Harbinger economics editor Fjalar Steðjason says Michaelsdóttir may not find an especially receptive audience in Anaia, but still thinks the mission worthwhile. “This is probably more about her being able to campaign on ‘opening up talks’ in the next election than coming home with anything concrete.”

    The second part of her visit will see attend the stall for the GANAX Cosmodrome, hosting a drinks reception on Friday evening and participating in a round-table discussion about spaceflight’s role in climate science on Saturday. “Again, it seems very calculated,” says Steðjason. “In Græntfjall, commercial spaceflight is mainly a right-wing obsession, but pitching the meeting in terms of climate change will appeal across the aisle.” Built under the Blue-Green government, the GANAX Cosmodrome at Segulmagnaðirborg has been intended as a commercial launch sight but has thus far failed to attract much interest beyond a few weather satellites. With prices for a single launch in the tens of millions of krónor, expense is certainly one factor; but, according to Sakura Yasumotosdóttir Nakamoto, editor of the tech journal enCrypt, this is still vastly cheaper than developing a native space program. “The pitch for this is really for countries who want independent launches but aren’t willing to invest in a launch site of their own.” Manda Michaelsdóttir says that the Left-slate government have regarded the Cosmodrome as a “white mammoth” and been “determined it should fail”, but with a sunk cost in the tens of billions, there is “substantial political will” among moderate swing voters to see it prosper.

    Kaija Michaelsdóttir will not be the only Græntfjaller in attendance at the Expo. A commercial shipping heavyweight that controls the Komodo Channel through the port of Hofvinger and boasts one of the largest shipping hubs in Pavola at the port of Altendalur, Græntfjaller maritime interests have advanced far beyond whaling and scouring for krakens.** Buyers and sellers are sure to flock to the Expo in force to showcase the new class of ultra-large shipping containers Compensators (they’re so big uWu), as well as the TJ-7 Black Knight range of noise cancelling headphones that are 99.9% effective in drowning out the whining of environmental protestors. Adela Jónsdóttir, Mayor of Altendalur City, will also be in attendance, as poor air quality remains an ongoing concern in her city, locus of the infamous Junction Of A Thousand Honks road interchange. Rail enthusiasts will also be in attendance although the Græntfjaller government will try desperately to pretend they have no association with them. But it is sure to be Michaelsdóttir’s visit who raises the most interest – and, potentially, signals the start of a new election season.
* Kaija married during the events of World Cup 89, but Græntfjall’s patronymic naming system mean women rarely change their surnames.
** There. I said the line. Now let’s move on.
Solo: IBC30, WCoH42
Co-host: CR36, BoF74, CoH80, BoF77
Champions: BoF73, CoH80, U18WC15
Co-champions of the first and second Elephant Chess Cups with Bollonich
Runners-up: DBC49, EC10
The White Winter Queendom of Græntfjall
President of the International Basketball Organization
Co-Convenor of the International Union of Basketball Clubs

User avatar
Drongonia
Ambassador
 
Posts: 1778
Founded: Feb 11, 2019
New York Times Democracy

Postby Drongonia » Sun Dec 19, 2021 1:42 am

Image

Official Information Act request reveals Drongonia's poor trans healthcare coverage
Nelson, Drongonia
December 19, 2021 | Emma Clark


Map showing available treatments for trans patients. Photo: // Ministry of Health
Image

Trans rights activist David Klein has revealed to TVDG that he submitted an Official Information Act request to the Ministry of Health last week to inquire about the state of transgender healthcare availability across the country, and he says the results are worse than he imagined.

The 30-page report details which treatments are available to transgender patients in each District Health Authority. In just three of country's nine DHAs, patients may be self diagnosed as transgender and receive treatment accordingly. In the Nelson, Dunedin and Southern DHAs, patients may present as transgender upon their first consultation. In all other DHAs barring English Island, patients must be formally diagnosed with gender dysphoria or another related mental illness before the process of treatment as a transgender person may begin.

English Island DHA does not recognise transgender individuals by their chosen name, gender or sex, instead defaulting to the information on their birth certificate and childhood medical records. Additionally, no government-provided trans-specific mental health support is available in English Island. Trans people wishing to seek these treatments while living in English Island must either seek private medical care or apply to the neighbouring Southern District Health Authority.

In Christchurch, transgender people have access to both trans-specific psychiatric assistance and hormone replacement therapy, however, HRT is only available with the approval of two doctors, and is not permitted to be prescribed to anyone under the age of 21. Additionally, Christchurch DHA only provides up to $25,000 in subsidised hormone treatments per year. Pharmacists in Christchurch are also legally permitted to refuse to honour prescriptions for hormone replacement therapy based on their personal beliefs, provided their employer has given them permission.

Hormone replacement therapy is not available in the Northern, Central, West Coast, Southwest or English Island District Health Authority areas. Individuals in all of these areas barring English Island must seek assistance from a private healthcare provider or seek medication from a neighbouring District Health Authority. In English Island, however, a recent decision by DHA board members has meant that hormone replacement drugs have been banned from supply and sale within its DHA borders, meaning that anyone seeking HRT treatment must travel to Invercargill to receive their hormones.

Earlier this year in both Nelson and Dunedin, District Health Authority boards voted to provide unlimited hormone treatments and gender-affirming sexual reassignment surgery. Additionally, both District Health Authorities provide subsidised treatment options for those located outside the DHA borders, if they do not have access to the treatments in their own areas. It is understood that Southern DHA's board will be voting on the issue in January 2022, with experts unsure whether the proposed changes will pass through the largely politically moderate board.

In November, Christchurch DHA voted on a proposed set of changes to HRT restrictions which would have removed the $25,000 per year limit and allowed over 18s access to the drugs, but the changes failed to pass through the board, being voted against 9-10 with one abstention.

The Ministry of Health released a statement today confirming that while they are neutral on the issue of District Health Authorities providing advanced transgender treatments, they will liaise with both DHAs to assist them in importing and certifying the safety of any medical equipment or medications that they may require as part of the delivery of the treatments.

Minister of Health Leah Driver was unavailable for comment on the report in question.



Top Comments (0)
Comments have been disabled on this article.
Republic of Drongonia | The conservative MT powerhouse of the South Pacific. | Drongonia's Index Index! | Note to me: remember to catch up on the IDI/IFI, dummy

News via TVDG: COVID vaccine rollout scaled back after less than 30% uptake | 5k LGBT Afghan refugees to be accepted following Taliban takeover | Navy entered NZ waters illegally over 100 times in 2020, report
Factbooks: Overview | Political Parties | Our Leader | Defence Force Info | OOC Info | [NEW!] Faces of Drongonia
Cavirfi wrote:It's nice to see someone who acts as an RP Census Man. Where is measuring statistics when we need it?

User avatar
Varenskjyr
Bureaucrat
 
Posts: 42
Founded: Jan 24, 2019
Psychotic Dictatorship

Postby Varenskjyr » Tue Jan 11, 2022 6:52 pm

Image

The Independent March is an independent publication run by the Democratic Front to document the political crimes and human rights abuses of the Federated Republic of Varenskjyr. Based in the United Kingdom, the Independent March has reported on arbitrary detainments, political arrests, and acts of military brutality for over ten years. Made up of political exiles and refugees, members of the Independent March continue to fight for the hopes of an independent and democratic Varenskjyr. If you would like to support this publication and the efforts in bringing democracy to Varenskjyr, consider donating to our Patreon.

Communications restored in the Federated Republic of Varenskjyr



1.11.22 - 20:12
Image


Citizens of Varenskjyr were finally able to send outside, international communications following over a year of blackouts and border stoppages. Over a year ago, the Varenskjyrian Civil War took a dangerous turn when the Premier of Skjyrlund, Gunnar Hadradason, led an attempted coup against Komidant Hjalmar Urzutkilsik. The coup failed, and Hadradson's men were forced into the countryside. Known as the Skjyrlund Liberation Front (SLF), the organization has stated its main goals are to oust Komidant Urzutkilsik and to establish an independent state in Skjyrlund. Since the inception of the Republic, Skjyrlund has typically been seen as a bastion for pro-regime loyalists, and the emergence of an anti-party force is unprecedented. Since that time, Komidant Urzutkilsik initiated a massive effort to curtail insurgent efforts. Internet communications were cut. Mobile and phone channels were blocked. Land and sea borders, save for key trade shipments, were completely closed. But now, as of January 11, 2022, these channels have opened once more and we at the Democratic Front will be giving you many key stories that have emerged since the silence of April 14, 2021.

Stay tuned.

User avatar
Drongonia
Ambassador
 
Posts: 1778
Founded: Feb 11, 2019
New York Times Democracy

Postby Drongonia » Wed Jan 12, 2022 1:38 am

Image

Govt-owned National Bank to absorb Southern Savings Bank in $550bn acquisition, become nation's largest
Nelson, Drongonia
January 12, 2022 | Edward Rice


A night shot of the National Bank Centre, central Christchurch. Photo: // Peaker/EricHallPhotos
Image

Officials at the Commerce Commission have given the green light to the largest ever merger in Drongonia's corporate history, with the government-owned National Bank agreeing to a $551.27bn acquisition of the country's 6th largest financial services provider, Southern Savings Bank.

Southern Savings Bank currently has an asset base of just over $502 billion, constituting approximately 9% of all of the assets currently held by banks in Drongonia. When combined with National Bank's $1.1tn asset base, the megabank will hold almost 30% of Drongonia's banked assets, totalling approximately $1.6tn of the $5.6tn held as of December 2021. This eclipses Drongonia's current largest bank, Westpac, which holds $1.19 trillion worth of assets or 21.25% of the country's total.

Under the terms of the merger, the usage of the SSB brand will continue for a minimum period of twelve months, and the employment contracts of its staff will continue for a minimum period of two years. Additionally, SSB executives will join the National Bank board of directors as well as fill several vacant executive positions, however, the details of their exact placements have yet to be made public.

The merger plan was presented to the Commerce Commission in early October 2021, with a panel consisting of business experts, economists, banking industry specialists and social science academics - assessing the potential effects of the move. After deliberation, plan adjustments and a 14-day public consultation period, the merger was approved yesterday with the Commerce Commission releasing a statement saying "the assessing panel are satisfied that given the measures in place, the plan will not create significant negative changes in either Drongonia's economy or its wider society."

Some critics, however, are considering contesting the decision in court. Libertarian Party leader Sean Davidson said in an interview on TVDG's Breakfast, "..the ComCom [Commerce Commission]'s decision to allow the merger to go ahead is just insane and quite frankly dangerous. Putting the government in charge of 30% of the country's [bank] assets is absolutely ludicrous. Only the forces of the free market can keep competition healthy." Later on the same show, head of the neoliberal Future Focus think-tank Pushra Singh conceded that the current market "created some issues with debt" but asserted that "socialism is most certainly not the answer."

Over the past five years, Southern Savings Bank has reported a total net loss of $10.2bn, which experts say is largely due to the comparatively high risk exposure that SSB uses to provide high short-term gains for its term deposit holders. In contrast, National Bank has reported a year-on-year gain in profits every year since 2011, with the bank raking in a bumper $11.81bn profit last year alone - one of its highest on record.

In addition to the approximately $1.6 trillion in combined assets, the two banks combined represent over 35% of the personal banking market, totaling approximately 11.7 million customers.

The PR departments of both banks have been relatively quiet on the merger, with neither releasing a statement on it yet. However, industry insiders have suggested to TVDG that there will be a joint statement issued next Monday.

SSB shares were up 10.2% to $9.05 following the announcement, closing at $8.84 at the end of trade.



Top Comments (0)
Comments have been disabled on this article.
Republic of Drongonia | The conservative MT powerhouse of the South Pacific. | Drongonia's Index Index! | Note to me: remember to catch up on the IDI/IFI, dummy

News via TVDG: COVID vaccine rollout scaled back after less than 30% uptake | 5k LGBT Afghan refugees to be accepted following Taliban takeover | Navy entered NZ waters illegally over 100 times in 2020, report
Factbooks: Overview | Political Parties | Our Leader | Defence Force Info | OOC Info | [NEW!] Faces of Drongonia
Cavirfi wrote:It's nice to see someone who acts as an RP Census Man. Where is measuring statistics when we need it?

Previous

Advertisement

Remove ads

Return to NationStates

Who is online

Users browsing this forum: Alteran Republics, Caraintos, Heplegro, King Isles

Advertisement

Remove ads