The Union (join us)

[Aurora Confederacy]

I would like to join if we are anti dictorships and extreme and we have to have a vote to alter the currency. but thats all lol

I think any single currency would be a BIG leap for a nation, and as a result I am not expecting every nation to sign up to it, some may see the risks as too great, hence the Aurora Confederacy offering a single currency that runs parrallel to member states domestic currency, so if one nation goes bust it doesn't drag the entire single currency with it

(IRL like Greece is doing at the moment with the euro)

[Former Yougoslav Macedonia]

The U£ would be pegged to the strongist currency in the Union therefore it would be.almost impossible for the single currency.to fail.

[Aurora Confederacy]

The U£ would be pegged to the strongist currency in the Union therefore it would be.almost impossible for the single currency.to fail.

R/L they said that about the euro!


IC
it only takes one or 2 to default on soverign debt and the entire single currency is at risk

[Former Yougoslav Macedonia]

The U£ would be pegged to the strongist currency in the Union therefore it would be.almost impossible for the single currency.to fail.

R/L they said that about the euro!


IC
it only takes one or 2 to default on soverign debt and the entire single currency is at risk

The euro only fell because they let greece in a greece doesnt pay any tax. All public employees simply do not have to pay any.

[The Time Lords]

I have decided against this topic, i have other pressing matters to attend to i'm so sorry to have to drop out on all like this.

[Aurora Confederacy]

I have decided against this topic, i have other pressing matters to attend to i'm so sorry to have to drop out on all like this.

no worries, I will pass this on to the European coalition

[Aurora Confederacy]

Project Aurora, the state owned mega corporation is looking to put dealerships in various European countries,

The Diamond Star Marketplace is the home of good, affordable automotive products. Concentrating on heavy commercial vehicles, Diamond Star has an extensive range of Euro VI compliant trucks, including the successful Kvasir and DS900 models. The ultra smooth, ultra reliable sleeve valve engine design provides excellent economy and longevity of operation between service intervals.

[Crothnar]

I would like to join, as an American.

[Hossalia]

What about a South American area?

[Astholm]

Our nation would like to join both the European Union and Asian Union, since we geographically fall between both (Astholm-Turkiye is one of three cross-continent nations).
However, Euro is not legal tender here, especially in Isle of Maren, all nations have the pound as their currency.

[Former Yougoslav Macedonia]

Our nation would like to join both the European Union and Asian Union, since we geographically fall between both (Astholm-Turkiye is one of three cross-continent nations).
However, Euro is not legal tender here, especially in Isle of Maren, all nations have the pound as their currency.

Good because the Unions currency is the pound.

[Astholm]

Our nation would like to join both the European Union and Asian Union, since we geographically fall between both (Astholm-Turkiye is one of three cross-continent nations).
However, Euro is not legal tender here, especially in Isle of Maren, all nations have the pound as their currency.

Good because the Unions currency is the pound.

That's the Astholmian Territories currency.

OOC: My region Astholmian Territories is like a 21st-century British Empire, with alternate history done for "rule of cool" purposes and some semi-realism.

[Wellboneland]

Can I still join? where do I go here?

[DanHoMe]

Dear nations of The Union

The Kingdom of Dan Ho Me would like to join The Union, realizing that it would benefit not only ourselves, but also the other member nations. Dan Ho Me can contribute to The Union by lending member states the cultural and economic opportunities as well as a strong diplomatic voice in the WA. As a Third World country on the African continent diplomatic contacts are vital for the development of our country.

The Dan Ho Me office of international affairs

________________________________________________________________________________________________________________

DanHoMe
National info http://forum.nationstates.net/viewtopic.php?f=23&t=160697&p=8216102hilit=DanHoMe#p8216102
Buy Luxorius and fashionable furniture http://forum.nationstates.net/viewtopic.php?f=6&t=160719

[West Vorshka]

Please disscuss the role of the Union Centeral Banking Authrity UCBA in the regulation of the U£

The Grand Permanent Secretary of Foreign Affairs and Grand Permanent Secretary of the Treasury of West Vorshka, Sir Richard Witarn and Sir Francis Gordon, delivered the following memorandum to members of the Union:

My Lords, Ladies, Gentlemen, Ladles, and Jellybeans,

We have before us some interesting options. The purpose of a Central Banking Authority is to provide a good monetary policy. What is good for one set of people may - indeed, we would say probably will not - be good for us all.

A Central Bank can aim for a certain level of employment with employment targets. This is not, in our experience, a widely-used practice. More usual is for a Central Bank to aim for a certain inflation target - but there comes a point when Quantitative Easing and higher inflation may make sense. What we do in Libraria and Ausitoria is to aim for a nominal GDP growth rate of 10% - our average annual rate of growth +2% inflation, which makes sure that in times of economic downturn; people are encouraged to invest as inflation rises rapidly; and we would recommend such a target.

A Central Bank also has the important job of acting as lender of last resort, which, for international currencies, immediately makes things interesting. Historically, if somebody were to be irresponsible in their finances, their debt would climb, nobody would buy it; and the central bank would step in and bail them out with printed money. However, printing money will cause inflation. Equally, not printing money will lead some countries to defaults, which could be followed by bank runs, insurance company bankruptcies, and subsequently sharp depressions if the entire banking sector collapses. If it doesn't, it would have to be saved by more bailouts - potentially causing the countries bailing out to run out of money themselves, even if their finances were fairly reasonable before.

In short, for any Central Currency, there must either be very strict limits to the nations debts and deficits, with all of the loss of sovereignty implied; or we must be ready for potentially dangerous inflation - basically, the rich saver see their money devalued and the poor get the profits - whenever any nation borrows too much money. Both are pretty appalling ideas.

West Vorshka will, unsurprisingly, not be taking part in any Central Currency.

[Vazdania]

Our nation would like to join both the European Union and Asian Union, since we geographically fall between both (Astholm-Turkiye is one of three cross-continent nations).
However, Euro is not legal tender here, especially in Isle of Maren, all nations have the pound as their currency.

Good because the Unions currency is the pound.

The Union does not neccisarily need to adopt the Union Pound as its official currency. To promote competition among Union Member we may have some official Currencies which member nations may choose from.

I of course will Choose the Union Pound as my currency as it has a large fallowing.

I encourage other member nations to adopt Union Currencies as thier own.

[Vazdania]

Please disscuss the role of the Union Centeral Banking Authrity UCBA in the regulation of the U£

The Grand Permanent Secretary of Foreign Affairs and Grand Permanent Secretary of the Treasury of West Vorshka, Sir Richard Witarn and Sir Francis Gordon, delivered the following memorandum to members of the Union:

My Lords, Ladies, Gentlemen, Ladles, and Jellybeans,

We have before us some interesting options. The purpose of a Central Banking Authority is to provide a good monetary policy. What is good for one set of people may - indeed, we would say probably will not - be good for us all.

A Central Bank can aim for a certain level of employment with employment targets. This is not, in our experience, a widely-used practice. More usual is for a Central Bank to aim for a certain inflation target - but there comes a point when Quantitative Easing and higher inflation may make sense. What we do in Libraria and Ausitoria is to aim for a nominal GDP growth rate of 10% - our average annual rate of growth +2% inflation, which makes sure that in times of economic downturn; people are encouraged to invest as inflation rises rapidly; and we would recommend such a target.

A Central Bank also has the important job of acting as lender of last resort, which, for international currencies, immediately makes things interesting. Historically, if somebody were to be irresponsible in their finances, their debt would climb, nobody would buy it; and the central bank would step in and bail them out with printed money. However, printing money will cause inflation. Equally, not printing money will lead some countries to defaults, which could be followed by bank runs, insurance company bankruptcies, and subsequently sharp depressions if the entire banking sector collapses. If it doesn't, it would have to be saved by more bailouts - potentially causing the countries bailing out to run out of money themselves, even if their finances were fairly reasonable before.

In short, for any Central Currency, there must either be very strict limits to the nations debts and deficits, with all of the loss of sovereignty implied; or we must be ready for potentially dangerous inflation - basically, the rich saver see their money devalued and the poor get the profits - whenever any nation borrows too much money. Both are pretty appalling ideas.

West Vorshka will, unsurprisingly, not be taking part in any Central Currency.

If the central bank passes within the Union then Vazdania seeks to limit it's power especially when dealing with loans. Vazdania would like to ensure that the central bank ensures that members states can pay back loans in a timely manner and can ACTUALLY pay back the loans

[Vazdania]

I apologize that I am interupting the Economics summit, however I believe we have enough support for a closed region. Nations who support the closed region please identify yourselfs by quoting this and saying "in favor" or something of the sort. ^_^

[West Vorshka]

If the central bank passes within the Union then Vazdania seeks to limit it's power especially when dealing with loans. Vazdania would like to ensure that the central bank ensures that members states can pay back loans in a timely manner and can ACTUALLY pay back the loans

How would Vazdania propose to do this?

I apologize that I am interupting the Economics summit, however I believe we have enough support for a closed region. Nations who support the closed region please identify yourselfs by quoting this and saying "in favor" or something of the sort. ^_^

What do you mean by a closed region? A new region?

[Vazdania]

If the central bank passes within the Union then Vazdania seeks to limit it's power especially when dealing with loans. Vazdania would like to ensure that the central bank ensures that members states can pay back loans in a timely manner and can ACTUALLY pay back the loans

How would Vazdania propose to do this?

I apologize that I am interupting the Economics summit, however I believe we have enough support for a closed region. Nations who support the closed region please identify yourselfs by quoting this and saying "in favor" or something of the sort. ^_^

What do you mean by a closed region? A new region?

1.) Legislation limiting central banks power
2.)Yes a new closed region where only puppets would meet that would be registered in the soverign nations name

[West Vorshka]

1.) Legislation limiting central banks power
2.)Yes a new closed region where only puppets would meet that would be registered in the soverign nations name

What sort of legislation? Why puppets, and why a new region?

[New Korongo]

Why puppets, and why a new region?

While at the moment this thread maybe sufficient the separate economic zones will eventually begin discussing matters concerning their own zone and this will become confusing very quickly. If we create puppets we could create a separate flag for each zone and the puppets would be required to fly their zone's flag and discussion could continue on an RMB.

[Europe Coalition]

What about a South American area?

America is a continent ( Me mean South,North, middle and caribic)

[Spiral Sun]

What about a South American area?

America is a continent ( Me mean South,North, middle and caribic)

Then why not call it the Amero or Peso? Either way, most of the pesos and dollars in the hemisphere use the same symbol, so maybe just use that.

[Europe Coalition]

Can I still join? where do I go here?

I put you into the Afro-Arabic Center, if you want elsewhere, tell it (just seemed that there fits)...