[CLOSED] The 2012 Letho-Costian Financial Summit

[Letharesia]

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The 2012 Letho-Costian Financial Summit
RP for the Northwest Coast and Letharesia in Midras

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
1 hour before opening ceremonies

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The Barthelet Building - la Bâtiment Barthelet, as Leths referred to it off-hand - was a skyscraper of glass and steel in the middle of the capitol of Letharesia. The logo of the SBL Union Bank was prominent in the glowing sign and the large digital screen that spanned one side of the building.

But now, the digital screen simply read, first in Letharesian and then English, The 2012 Letho-Costian Financial Summit. And indeed, it was: in the belly of the Letharesian corporate beast, the two largest banks of Letharesia and the Northwest Coast and their representatives were convening to discuss matters of international and regional significance - and also to boost mutual publicity. The public were invited to certain areas of the summit.

It wasn't surprising, therefore, that the main hall of the Barthelet Building was covered in booths explaining various operations of both the SBC Union Bank and the Coast Credit Union, and employees selling accounts and credit cards, and handing out various merchandise, like cards and shopping bags.

Behind a set of closed doors, however, was a whole different world: a decorated corridor led to a number of conference rooms, the largest of which was booked for the actual 2012 Letho-Costian Financial Summit, and was restricted from public access. Here, the bigwigs and leaders of each bank and their investors would be meeting to discuss their financial plans for the following year, as well as the economic future of Midras.

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It was in this room that the Chairman of the Board of Directors, François Clément-Bayard, was making the final additions to the room.

A decent table of refreshments and coffee, information brochures, and attendants decked in the SBC colours were lined up on either side of the conference room - which was saying something, since most of these guests paid nothing to be there. Seeing everything was in order, François looked to his PDA.

The order of events for the conference were to be as follows:

• 02:00 PM: Opening ceremonies and keynote speeches.
• 02:15 PM: Field questions from investors and guests.
• 02:30 PM: Closed-room discussions.
• 04:00 PM: Recess.
• 06:00 PM: Dinner gala in the main hall.
• 06:30 PM: Closing ceremonies and speeches.
• 08:00 PM: End of the 2012 Letho-Costian Financial Summit.

The order of events had already been sent to the guests, including those from the Northwest Coast. François had prepared both the helipad at the top of the building, as well as the doormen in the front to keep an eye out for the Costian Credit Union; he had wanted to make a personal greeting.

But with an hour left until the start of the Summit, all François could do was sit on one of the chairs in the conference room and flick his fingers, waiting.

[The Northwest Coast]

Fishinghawk Mapiya sat generally unfazed by the crowded streets of Vervet, such things were common where he worked. His crisp suite told his whole story, he was a man of 65 with sleek black hair and an all black suite. When it came to banking he was the guy for the job, after all he was modeled for the job. As his family before him had founded a trust a 100 years ago that still holds a monopoly-like grip on the financial sector of The Northwest Coast, he himself held such a grip on his company which he ruled with an iron fist. He leaned back and began to smoke a cigar as his limo pulled up to the corporate headquarters of the SBL Union Bank.

He was escorted out of the limo as he strolled up the steps and into the lobby, evidence of the conference all around him.

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
20 minutes before opening ceremonies

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The SBC eyes and ears outside the building quickly contacted François when they saw the limousine of the heir to what was probably the largest financial company in the Northwest Coast, and the Coastian Credit Union. François arrived almost immediately, the effort he had put into running wasn't apparently, leaving him unfazed and not sweating. Taking a moment to readjust his tie, he made his way through the crowded lobby to Mapiya.

"Mr. Mapiya! Over here, please." Thankfully, both Costians and Leths spoke the same language - or about the same. Letharesian was about as close to French as a language could get, sharing the same etymological roots. François outstretched his hand in Mapiya's direction, in an offered handshake.

"I'm glad you could make it. Chairman of the Board, SBC Union Bank," François told him. "Please, this way."

The crowd of the public didn't recognise the sextuagenarian Costian and the considerably younger Leth, in his grey pin-striped suit and red tie, as well as pale blue eyes and dirty blonde hair that defined most Leths. François kept talking over the din, informing Mapiya of the details on that day. "We'll be starting with our keynote speeches - guests first, so I suppose that means you, Mr. Mapiya. Then, we answer some questions."

François turned to face Mapiya before they reached the pair of white doors that led to the conference room, in part to make sure the aging man hadn't wandered off somewhere during his explanation. "In there are our investors, Mr. Mapiya," he said. "Are you ready? Any questions for me before we enter?"

[The Northwest Coast]

Mapiya himself marveled at the architecture of the building in which he would be speaking, but before he walked through the door and into the conference room. He answered his fellow Chairman,"Yes, I am ready François." He began to open the door but before he did he turned around,"Oh and do please signal me if I am doing terrible." He used this joke to somehow calm himself, he was in a foreign country speaking to his investors and the investors of the SBC Bank aswell. He waved his hands as a light applause resounded around the room, he then took his place at the podium, taking a sip of water before speaking.

"Ladies and Gentlemen I would first of like to welcome you to the First Annual Letho-Costian Financial Summit! I would just like to say that it is a joy to be here, I appreciate the hospitality of hosting me and my company on this occasion. But before I go on, I would like to of course recognize François Clément-Bayard my fellow Chairman of the Board. I would also like to recognize Olivier Lecerf and Thierry Desmares for having me here. Now moving on!

I have come here to talk to you about the future of The Coast Credit Union and its relationship with SBC, now as you may or may not know The Northwest Coast has been in a sort of financial down spiral. As a result the Credit Union has had a lot of weight being shifted upon itself to keep the economy going. But, after speaking with Chairman of the Costian Federal Reserve I have found out that the Confederate Congress will hold a joint session. Specifically voting on whether or not to make the Credit Union the central bank of the nation.

What does that entail for our partnership with the SBC? It is the fact that we might become a central bank that at this point makes us so formidable for us on the international market, better yet for the Costian Currency. Did you know that the Costian Currency is so inflated, that it is 100 dollars to get a fast food meal?

I am also here to further our relations between our two banks, and to do so I can only ask you to invest in the Coast Credit Union. We can only grow and I can assure that we will receive double digit growth within the next quarter alone. So please, heed my words for they are not empty. I would not be here if I did not have a proposition that could fill your pockets as well as mine."

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Opening ceremonies and keynote speeches

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François deftly took over the microphone - for a man nearing the Letharesian age of retirement, 65, Mapiya handled himself tremendously well, thought François, as he perused quickly over the few notes he had jotted down for his keynote speech. He addressed the small audience from the stand.

"Thank you, Mr. Mapiya. it is certainly an honour for us to host this summit, in commemoration of our partnership.

"To briefly introduce myself, hello, my name is François Clément-Bayard, Chairman of the Board of Directors of the Commonwealth Banking Union - but most of you know us better as the SBC Union Bank. We have grown tremendously in the previous years, as what started as an informal association between our forefathers, years ago, became a formal organisation of Letharesian banks. Now, we are the largest commercial banking institution in Letharia.

"But enough with history. The mission of the 2012 Letho-Costian Financial Summit is not only to look at what we have accomplished individually as separate companies, but what the future holds for a stronger SBC Union Bank and the Costian Credit Union, working together against all odds and difficulties.

"As Mr. Mapiya has already pointed out, the economy not only in the Northwest Coast but also in Letharesia is in a bit of a jam. The growth of jobs cannot match our growing population, and an ever-aging population means the workforce per retiree will drop from 3.2 today, to less than 1 by 2020. Less jobs and less workers mean a stalling economy - we can't change demographics. But we here at the SBC Union Bank believe we can change business.

"The SBC Union Bank will remain a private, commercial enterprise, although we play a larger and larger advisory role to the Monetary Authority of the Royal Commonwealth, the central banking and monetary policy institution of Letharesia. Our co-operation and partnerships with central banks, like the one that the Costian Credit Union will undoubtedly become under Mr. Mapiya's leadership, is a key component of mutual financial success in such times of trouble.

"So, in the end, we would like to point your attention to two points: first, both Letharesia and the Northwest Coast suffer from different economic ailments, short-term and long-term. But with co-operation between the SBC and the Costian Credit Union, we are confident in our mutual success.

"You can bank on success, so we strongly urge you, our current and prospective investors, to regain faith in your economy. Regain faith in your banks, and we can reciprocate your faith by sharing our success. Thank you for your time." François turned to look at Mapiya, then looked back at the audience. "I believe that Mr. Mapiya and myself can answer a few questions regarding our respective companies. Is there anyone here today with a question?"

[The Northwest Coast]

Antoine De Leon, a man of the age of 40 stood at the mention of questions." Ahh yes, I have a question for Mr. Mapiya, it seems as though sir that the financial sector in The Northwest Coast has been taking a hit. You stated that you could assure double digit growth within the next quarter. What makes you so sure?"

Mapiya responded in kind,"Sir, I understand your concerns regarding investing in the Credit Union. I can assure you of this as a result of the government lifting a filibuster in the Confederate Congress regarding pulling back on money printing. As you may know, the government has continued printing money over the years and over time it has gathered into one big bubble which we can pop with one small needle. That needle is the Credit Union becoming the Central Bank, as the first order of business would be removing print money from the circuit. We will be removing paper in the billions actually."

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Field questions from investors and guests

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Almost immediately after Mapiya answered his first question, another journalist stood up. "Jean Douriac, from the Vervet Flâneur," she introduced herself. "The SBC Union Bank is, we all know, one of the largest banks in Letharesia. The Credit Union, on the other hand, is what it is...a credit union.

"Given that SBC and the Credit Union offer completely different services and operate in different political and economic environments, what do you think will be the largest obstacles in ensuring that this partnership is, and indeed if it would be, successful? How do you think you will overcome these obstacles?" Pausing for a second, she looked first at François and then at Mapiya. "If both could answer the question, it would be great," she said, then sat back down.

Glancing at Mapiya, François raised his microphone to his mouth. After a brief thought, he responded:

"I personally know that the Northwest Coast and Letharesia suffer from different economic problems: the Coast have too much money in the circuit, weighing down economic growth with inflated prices, and Letharesia has too little money and room for economic growth that stalling is a major issue.

"Part of this is the gold standard in use by the Monetary Authority of the Royal Commonwealth." (A murmur passed through the crowd. The gold standard being a long-standing principle of the Letharesian economy, it was academic blasphemy to suggest otherwise.) "We're not saying that the SBC will push to abolish this; actually, we'd like to increase the gold reserves of Letharesia through foreign trade, securing a larger pool of money, and lowering prices.

"The other part of our problem is that the Letharesian economic atmosphere isn't conducive to foreign business and investments - that's why we've existed in economic near-isolation for so long. By introducing the Credit Union and fostering international investments, I believe that we can change this.

"And I know some people are concerned about our partnership due to the fact that the Costian Credit Union seems to be a credit union, but rest assured, that's just terminology. The Costian Credit Union is still a strong financial institution that provides an overwhelming majority of financial and banking services in the Northwest Coast, and its merger with the Central Bank will only make it stronger." He looked at Mapiya, finished with his answer.

"Do you have anything to add, Mr. Mapiya?"

Before Mapiya could speak, however, Jean interjected again, with another question: "Before Mr. Mapiya answers, one last question: if the Credit Union, as the Central Bank, withdraws money from the Costian economy, what would this mean for prices, businesses and investments in the Northwest Coast?"

[The Northwest Coast]

Mr. Mapiya answered,

"Ma'am, what you have asked is attributed to common misconception, once the Credit Union merges with the Central Bank, it will no longer be just a Credit Union. Formally it will be known as the National Bank of The Northwest Coast. Secondly, the Credit Union will in no way withdraw money from the economy. But better yet we will begin to regulate the print money. This is so that it will better match what gold reserves we have.

For your first question it is commonly known that for any relationship to be possible, there has to be common ground. Our common ground is the fact that our economies are not in the best shape. Both of our banks wish to change that, so at this point that's all that matter. Before you can begin to change anything with a partner, you need to have the same mindset; in this case it is economic prosperity. Thank You.

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Field questions from investors and guests

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François noticed that Jean had a confused expression as she sat down, her question about how Mapiya's new monetary policy would affect foreign investments unanswered. But before she could voice her discontent, he picked up his mike and started where Mapiya had left off regarding the partnership.

"Before we go further, I'd like to mention that I wholeheartedly agree with Mr. Mapiya's statement: we're at a crossroads, the Northwest Coast and Letharesia, and this partnership will be the first step in ensuring that the economies of both countries - and the value of your investments - grow at an admirable rate, and fix the different economic problems that plague both countries. Now, is there anyone else in the audience with a question?"

Almost immediately, another journalist rose from his seat. "Damien Chevel, from the Internationale.

"You mentioned that the SBC will perform, and I quote, "a larger and larger advisory role to the Monetary Authority". If the SBC remains a private institution, why should it play such a large role in public, and might I add, government affairs? Don't you think that this borders on, I don't know, ille-"

François waved him off - he had heard the same accusation countless times before, from people all across the political spectrum. A leftist activist didn't faze him in the least. "The SBC will do everything necessary to ensure that the Letharesian economy prospers - this is our responsibility as a responsible corporate citizen. To suggest that us doing so is morally wrong, or Aleppe save us, illegal would be a gross misrepresentation of the facts."

His expression was one of feigned and stern disinterest, one that seemed to suggest, Yes, it's fine if you ask questions, but don't try to pull some political stunt because those kinds of silly questions won't be tolerated. What do you know, there are such things as stupid questions, and I won't waste my time.

Visibly cowed, Damien sat back down, and was replaced with yet another. A couple more, and then we'll get to the real business at hand, François thought. "Yes?" "Orlene, from the Daily Gossip," the middle-aged woman asked in English - the first question in that language so far in the session.

"To Mr. Mapiya, we appreciate how this partnership would bring economic benefits to both countries. We know who benefits, but exactly how will this partnership work? Also, how will Leths be able to invest in the Credit Union, with the Credit Union being a foreign business? With what stock exchanges?"

[The Northwest Coast]

Mr. Mapiya clicked his hands on the podium obviously annoyed with all of the questions being asked, it was almost as if a he was swatting a fly that he gave permission to be in his space. Nevertheless he continued on to answer the next set of questions, " The Partnership between the Credit Union will be mutual, we have set aside a large number of shares for those from Letharesia. The National Bank as a whole will be public, but the newly reformed Costian Private Sector Bank will still be trading shares. We will also form an alliance hopefully that will allow customers to use their ATM or Debit Card at both of our financial institutions to better the needs of the customer. As seeing that the SBC Union Bank is a very large entity aswell as the Credit Union being the largest and leading financial authority in The Northwest Coast.

Secondly, the Stock Exchange that The Costian Credit Union is currently trading in is the Yohannesische Börse AG Stock Exchange, this will allow the Leths to be able to trade Costian Shares. Not through our own smaller stock exchanges."

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Field questions from investors and guests

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François noticed that Mapiya was strumming his fingers on the podium. Being quite bored himself, François launched off with a brief statement for the audience: "The next question will be the last one before we move forward with today's events, and thank you for your participation." So make it count.

But he first had some things to say. "Mr. Mapiya basically summed up what was an year's worth of negotiations." (Nervous laugh in the audience.) "The SBC and Credit Union will share investments - a significant portion of SBC's shares, which will be released through our initial public offering, have been set aside for the Credit Union. The SBC will also invest not only in the private bank, but through Costian government bonds and currency through the National Bank.

"As for the means of investments...the SBC prefers not to handle the Yohannesian stock exchange, seeing the faulty history of poor customer service, especially in light of the embargo on Gholgoth-" (More laughs this time. The Gothic embargo hadn't tremendously affected Letharesia, and many were glad of it - and strong anti-Gothic sentiments ran wild.) "-and we'd rather invest directly with the bank. If need be, though, we will undertake the risk.

"As for the initial public offering of the SBC's shares - the SBC is in the middle of preparing our own stock exchange to perform on the Midrastian and international stages, and it is our hope that it will perform at a level competitive to others currently available elsewhere - for your benefit."

Mildly polite claps ensued - the stock exchange was new news, and François knew some investors sitting there were glad of it.

"Any more questions?" No-one raised their hands - most had contented looks on their faces, and by the way they were reading the information brochure on both the SBC and the Credit Union, François believed that the publicity event had been a success, and some where considering hefty investments. After all, Letharesian investors had money to spare and no stock exchange to vent it on. François turned to Mapiya, and offered his hand in a handshake.

During the appreciative applause that followed, François gestured towards the doors to the end of the hall. "Shall we?" he said, and the attendants opened the door. They made their way to a separate room, where there were two comfortable chairs, a table, and some refreshments laid out on a cart.

François broke into the first real smile since the start of the day. "You were great out there, Mr. Mapiya," he said. "Now, before we get started on discussing in detail the arrangement of our partnership, do you care for a spot of tea?" And indeed, the cart had all sorts of goodies and beverages.

[The Northwest Coast]

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit

Mapiya answered,"Ahh yes, thank you, and François I must say before we go on that you handled yourself well out there. But now on to business. I have heard of your business with Gholgoth. I wholeheartedly agree with the aforesaid statements, though it will take us a while to withdraw ourselves from the market. Nevertheless, a Midrastian Stock Market based in Midras that would also be available internationally? I am very interested in the prospects of such a venture succeeding." Mapiya then took a slight sip of his tea, taking in his surroundings.

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Closed-room discussions

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François nodded gravely - the closed-door discussions, the actual point behind the 2012 Letho-Costian Financial Summit, had started at last.

"You need to understand, first of all, Mr. Mapiya," he began, "that we by no means intend to slight the Gothic alliance in any way - but then, their rather...strong-voiced dissent to the embargoes and the closing of the Gothic markets and their consequences have led me to the conclusion that, well-"

François paused, then looked gravely at the old man in front of him. "-that depending on Gholgoth for investments would be a mistake.

"Hence, we're trying to bring to Letharesia, and through Letharesia the rest of Midras, an easier vessel to invest and promote financial ties between what would be a very large market - if we could overcome the economic isolation imposed by some governments, based on ignorance. And that's the reason behind the SBC being so particular about the creation of an international stock exchange. Now, I'm glad that you're interested, Mr. Mapiya."

François looked back down at his tea. The surroundings were what you would expect of a corporate office - bland, chillingly cold grey wallpaper, with some photos of bright flowers and birds that everyone knew was there to brighten the atmosphere, but somehow made everything more grey. The chairs, however, were designed for comfort, and François leaned back, letting his chair support his weight without a single creak. He rested his cup on the table.

"If we do get the government approval, and I'm confident we will in the next three months, construction means that approximately one year from this day, you should be able to start investing in the new and improved Vervet International Stock Exchange (VEX). And that's about it for that idea, I suppose.

"Now, a question from us; what do you mean by 'withdrawing from the market', and how much assets or stocks have you handed over to Gholgoth?"

[The Northwest Coast]

Vervet, Letharesia
Barthelet Building
Fishinghawk Mapiya

Mapiya leaned backed and folded his legs, getting himself comfortable before he answered François' question. "We have not formally handed over anything to any nation that resides in Gholgoth, although we have put ourselves in the Yohannes Stock Exchange. For that I am sorry, I nor my colleagues were aware that we would be stepping out of line. That is what I meant by withdrawing from the market.

Secondly, François I would like to know if there is anyway we can help with your economy. At all, as from what I have heard from the press conference, your having more problems with the current workforce than I previously thought." Mapiya also leaned back in his seat just a little, making sure that he kept his tea near him. Just in case he needed it, he had been having a terrible cough that day.

[Letharesia]

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Lobby, Barthelet Building
François Clément-Bayard
Chairman of the Board of Directors

Vervet, Letharesia
The 2012 Letho-Costian Financial Summit
Closed-room discussions

---

François inhaled a significant amount of tea, but as the hot liquid bit down through his nose and went down the wrong hole, he hid it in a mask of care. In large-scale corporate moves like this, it was important not to overstep one's authority, and yet here he seemed to have done so. That seemingly innocuous comment could have broke the whole deal off, and François immediately launced into his "damage-control, saving-face" mode of speech.

"No, not at all, Mr. Mapiya - we at SBC are just concerned as to the considerable financial risk you would be entering if you went to Gholgoth for business. We would recommend you withdraw your shares from being listed on the Yohannesian stock exchange, but that decision ultimately lies with you, of course."

Here, François risked a small cough to help the liquid down his throat. He answered the second question. "I'm afraid that there's not much to be done at this point - unlike the Costian economy, which I'm confident will rebound once investors and normal people regain trust in the economy and you assume responsibility for the National Bank, the Letharesian economy has much more intrinsic problems to do with the Letharesian demographics and money.

"We use the gold standard, which means that without securing enough gold reserves, our banks are unable to manage monetary policy. This makes Letharesia incredibly stable, of course - stable and slow-growing. We can't get rid of the standard, so the next best thing is to acquire more gold reserves.

"If the Northwest Coast had a large sector for gold mining, or was offering its gold bullion for sale, we would consider it. The other problem is demographics; Letharesians are - how do I say this - growing older, and having less children. Less workers mean less revenue, more retirees means more entitlement, and less revenue and more entitlement together means that there will be a major funding problem ten, twenty years down the road."

François looked at Mapiya. "Putting this in order, Mr. Mapiya, we would be grateful if you could arrange for us to enter a procurement contract with Costian gold mines and mining companies - but the best solution right now would be investing in each other, making this partnership, people regaining faith."

Now, his own question: "How do you expect the automated teller machine share policy to work? Would we have to design and purchase a new model?"

[The Northwest Coast]

Vervet, Letharesia
Barthelet Building
Fishinghawk Mapiya

Throughout François' explanation Mapiya nodded and sipped his tea before answering the legitimate question,"No not all, for us all you would need to do is provide the actual bank withdrawal network, from there when we sync our ATM's with your institution it should be fine. Nevertheless should you want an in-depth explanation I can always get one of my technicians to fax you a full report.(OoC: I would have some researching to do ) As Mapiya began to do a follow through in his mind on what he just said, a cellphone ring interrupted his train of thought.

"Excuse me, François." He got up and walked a couple yards away before answering,"Who is this?" After a couple of minutes Mapiya returned, with good news. "François, I am proud to be the first to tell you that the Costian Credit Union is no longer, but the Costian National and Central Bank has been established. I cannot wait for the news to hit the market, I should expect some growth by the next opening bell."