Keymon

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As the International Monarchist League, the millennia-old organisation formed for the sole purpose of preserving and promoting cooperation among the monarchist state of Terra obtains a much-needed rebrand and revival in the form of the Framework for Cooperation between the Members of the International Monarchist League, Regent of Keymon His Excellency, Nevio I believes that the highly anticipated "Summit of the Crowns" to be held in Münberg, would be an excellent opportunity for the Principality of Keymon to strengthen its relationship with existing partners and forge new relations with newer members of the organisation. Compared to the monarchies of Dorvik and Lourenne, the Monarchy of Keymon has been largely silent and has for the most part remained extremely tight-lipped on its exploits. Owing to the fact that Keymon does not possess an heir apparent and therefore a Regency remains in place, there exist numerous restrictions to the reach and influence of the regent. "Although the regent acts in lieu of the rightful claimant of the Keymonite throne, the Chamber of Deputies heavily monitors the actions of the regent, thus leading many to conclude that the regency is a mere puppet of the Chamber of Deputies and the Keymonite Government at large, as both the aforementioned institutions are responsible for the appointment and nomination of the regent," Lorenzo Wirthlin, a freelance journalist who exclusively covers the exploits of the Keymonite regency, said during an interview. Nonetheless, Regent Nevio I remains committed to the duties bestowed onto the office itself. In a statement dated earlier this morning, the Regent said: "Notwithstanding the fact that we are in every essence a unique nation in that we are the only nation with a rotating regent appointed by the parliament, It is my duty as regent to preserve the institution of the Keymonite Monarchy and thus hosting and becoming increasingly involved in the matters of the IMCO (IML) is an integral part of that duty." The statement noted that there was much Keymon could potentially learn from the monarchies of Dorvik and Lourenne, particularly as it pertained to how these institutions are used as an extension of the foreign policies of the aforementioned nations. Minister-President Dr Oscar Brennwald, who in his capacity as Acting President of the Council of State, the Keymonite Monarchy's committee of his/her most trusted advisers (primarily government ministers), believes that there is considerable merit in the Regency becoming a new tool within Keymon's foreign policy arsenal. "Foreign policy decisions which require a touch softer than a visit from the Foreign Minister but a step above our Ambassador to the nation is exactly where the Regent can play an extremely important role. It is my intention to announce these increased powers of the Regent during the Crown Council meeting alongside other initiatives aimed at making the IMCO/IML a more relevant organisation.

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Initially created as a means of enhancing the role of the national government in the nation's budding space research sector at the time, the Keymon Space Agency (KSA) has undergone numerous transformations since its creation decades prior. Principal among these transformations was the decision to transition the agency away from simply enabling private sector companies to become capable of joining and contributing to the nation's developing space research industry to actively becoming involved in the sector as a direct competitor against some companies and a partner alongside others. With a new Director having been appointed in the form of Dr Liam Vollenweider, the KSA is set to undergo another transformation. Dr Vollenweider believes that the KSA should not only rely on research and development conducted by its team of researchers, but that agency should source external research, primarily for the nation's universities as a means of adding an additional layer of depth to the agency's growing portfolio of credible space exploration-focused research. He noted that in many instances, the agency yearns for younger minds to push the boundaries of the agency's mandate: to develop a vibrant and robust space exploration and research industry in Keymon. At a hearing of the Chamber of Deputies Committee on Science, Technology and Research, Dr Vollenweider revealed that the agency had been in deep consultation with the University of Keymon on collaboration in aiding the agency in developing technologies and systems which could potentially be used in the KSA's future missions. He explained that although the KSA had no intention of making extra-ordinary leaps such as landing someone on the moon, the agency had every intention of launching it first rocket, deploying its first satellite and potentially aiding private sector firms in doing the same. "The nature of every space research entity, be it a public agency or a private corporation, is to be ambitious. Ambition has been the primary driving point for much of the advanced in the space industry and will continue to be so. However, we are of the view that our ambition must not conquer known frontiers but advance into the unknown. We believe that we don't need to land someone on the moon to prove our agency's worth. Instead, where we prove our worth would be in the innovations and contributions we make in the future and how these contributions advance the cause of human discovery," Dr Vollenweider said to committee members. Signing an MoU (memorandum of understanding) between the Keymon Space Agency and the University of Keymon, Dr Vollenweider stated that both entities will cooperate on a range of projects, the principal among them being rocket propulsion systems. Before the committee, he admitted that the agency was at a loss at addressing its challenges as it relates to developing its own rockets, explaining that there was no nation with an active space programme from which the nation could draw examples. Pointing to nations like Dorvik, Kazulia, Lourenne and Vanuku as nations with once active space programmes (now inactive), he stated that the agency would primarily have to rely on its own ingenuity. "The University of Keymon, a powerhouse in itself on the Artanian continent as it related to education and research provide us with the necessary expertise in the area of aerospace engineering. We are confident that the MoU we have signed with UNIKEY will enable us to address many of the shortcomings I have identified to this committee as create our scholarship and apprenticeship programme which will offer young STEM students and graduates a unique opportunity to practice their respective trades under the roof of the KSA," Dr Vollenweider explained. He also noted that the KSA intends to unveil a programme which will reward students, graduates and researchers with cash, prizes and potentially permanent employment with the agency should their research be considered useful for the KSA in its various space research programmes. "Project Watcher, our landmark rocket and satellite development programme will be informed by much of the research conducted by the University of Keymon and its students, graduates and researchers. We anticipate a quadrupling of interest in satellite technology and rocketry as the private sector attempts to mirror what we've done today," Dr Vollenweider concluded. Although the matter has not cleared deliberation before the Council of State, Minister of Science, Technology and Research Dr Mathilde Stamm and Minister of Economic Affairs and Communications Dr Arthur Bindschädler have hinted at a potential increase in the budgetary allocation for the Keymon Space Agency and the potential for the agency to become more independent of the Department of Science, Technology and Research albeit whilst remaining under the Department's watchful eye.

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With the green revolution taking off in Keymon led by public-private partnerships between the Green Finance Corporation (a subsidiary of Keymon's national development bank, NLK), OKW Energie has announced its intention to construct Keymon's first wind turbine blade manufacturing facility in Oftzach. The announcement came via a press statement from the company dated earlier this morning. In it, the company's President and CEO, Jürg Schälchli stated that the company's strategic plan mandates that in order to secure the company's position in the domestic market, it must become involved throughout the entire green energy supply chain, including the manufacturing of wind turbine blades. "Our company strives for excellence and thus our strategic plan stresses on the importance of becoming involved throughout the entire supply chain; from generation to distribution. When we build wind farms we want to know that the turbines, the blades and other materials going into these projects are of the highest quality, and who better to determine what we believe is high quality than ourselves," Schälchli explained. Schälchli noted that the announcement would not have been possible if not for the work of the Green Finance Corporation, a similar subsidiary of NLK, aimed to leverage public sector financing into encouraging growth within Keymon's green and blue economies and aligning the objectives of the nation's green and blue economy-based businesses with that of Keymon's long-term green industrial strategy. According to Schälchli, OKW Energie had signed onto a loan agreement from the Green Finance Corporation which would see the entity provide the company with around 900 million KED in order to finance the project's construction in exchange for 15-20% of shares into OKW Energie's wind turbine manufacturing business. Minister of Economic Affairs and Communications Dr Arthur Bindschädler hailed the project as a triumph of the nation's green industrial strategy. He stated that the fact that companies continue to become increasingly involved in the country's "green revolution" is evidence of the confidence with which the business community has in the national government and its policies. "I think if it has been made clear by now, our green revolution is well poised to influence a much larger national movement as it will become the blueprint upon which an Artanian Green Revolution will be based on. The fact that the business community continue to become increasingly involved in what we are doing here is evidence that we are on the right track. This is a bold new industrial strategy we embarked upon decades prior and it is something this administration will continue to build on. The promise of an environmentally conscious industrial strategy or a "green industrial strategy" if you may, is something which we believe could bring about a lasting change not only within our nation but potentially the wider region. The vigour and tenacity with which we continue to pursue our green revolution has the potential to position us to usurp Lourenne as the world's green energy and green tech powerhouse." Construction on the project is expected to begin in the coming months, with OKW Energie noting that the proposed plant will be its largest investment to date as the company hopes that it would become the foundation of an integrated wind turbine manufacturing complex, wherein not only the blades for the turbines will be constructed by the turbines themselves.

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Having disappeared from the political scene for the better half of a century, the once infamous Social Democratic Party (SDP) has returned, and in a series of events which came both as a surprise to conservatives and a given to experienced political scientists/analysts, wrestled back complete control of the nation’s parliament, in a sweep not seen since the party’s hay days in the early 5000s. Campaigning on transformational reforms to Keymon with the hopes of roaring the nation’s once highly praised economic model back into prominence, the SDP took to confronting the established conservative order which had formed in their absence. At the helm of this stunning victory for the party was Dr Emilie Bertschinger, an experienced political economist and former lecturer at the University of Keymon, Munberg. Bertschinger placed much of the party’s electoral success up to the party’s internal restructuring which took place following her election as party leader in a highly secretive vote. Uncomfortable with the malaise which had swept through the party and had thus cost it considerable electoral support, party officials mounted a quasi-coup against stalwart party leader Alessandro Bitterwolf, whom they noted showed little to no inclination to reverse the party’s poor performance. Utilising a loophole in the party’s founding constitution, delegates from the various branches of the SDP including its branches in Bremneck, Kreuzbourg and Wiedlismont launched a no-confidence vote in Bitterwolf, citing his supposed inability to “steer the party to electoral victory.” In a move largely motivated by his eagerness to remain as leader of the SDP, Bitterwolf challenged the no-confidence vote, arguing that the SDP’s failure was not due to his executive’s supposed incompetence, but that of its lower-level members. Additionally, to ring-fence himself from potential political harm, he sought to remove numerous party officials who joined the no-confidence vote against him. Party Treasurer Thomas Hirsh and Head of the Party’s Economic Research Unit, Dr Levio Dierauer were subsequently ejected from their positions following news of their supposed support of the no-confidence motion. Bitterwolf was eventually removed as party leader, as a vast majority of delegates voted in favour of the motion, with Bitterwolf maintaining considerable support among Münberg delegates. Following Bitterwolf’s defeat, Dr Bertschinger was nominated to lead the party by Party Chairman Oscar Wymann and subsequently endorsed by delegates from Münberg, Bremneck, Kreuzbourg and Wiedlismont, with the Münberg delegation pointing to Bertschinger’s credentials as an experienced political administrator. In her victory speech against the backdrop of the party’s sweep of the Chamber of Deputies, Bertschinger stated that she intended to return both the SDP and Keymon to its technocratic, meritocratic roots.

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Having spent the better half of the previous century within the firm grips of isolationism, Keymon’s once pragmatic foreign policy has largely been left to the wayside, forgotten by the successive political administrations which have occupied the nation since that original document’s creation and subsequent adoption. The world as it stands now is vastly different from when said document was conceptualised, noting the rise and fall of various traditional powers and the return of multi-polarism against the backdrop of emerging alliances. Decades of nationalism, be it economic or political have driven a wedge between the nations of the Artanian continent, therein contributing to the disjointed nature of trade and economic development on the continent itself. This alongside the rising influence of extra-regional territories on the continent has seemingly culminated in the continent’s supposed undoing. Amidst this assessment, there remains an air of uncertainty surrounding Keymon’s place in the region, noting that the once stabilising power dynamic which had existed on the continent, has changed albeit some may argue for the better. Nonetheless, the lack of a coherent foreign policy aimed at clearly defining the nation’s position within the Artanian community and the wider world as a whole remains a dangerous prospect for the future of Keymon. In its assessment of the nation’s relative geopolitical position amidst the aforementioned setting of shifting continent power dynamic and a plethora of nations operating within the dubious/grey zones of foreign policy, the University of Keymon’s Atreju Zuberbühler Institute for International Cooperation argues that Keymon should avoid becoming embroiled in the ongoing geopolitical spats between the major powers, pointing to the wider Non-Aligned Movement as a potential alternative to the allure of a near-permanent coupling to one of the continental powers. “There is a Talmorian proverb which notes: “When elephants dance, it is the grass that suffers”. There is certainly something which can be said about the current movements of the powers that be, especially noting the current geopolitical row. Keymon must not be drawn in these arguments as they bring no material benefit to Keymon’s position. We [Keymon] must declare ourselves as a neutral nation on the continent,” the Institute noted in its most recent quarterly roundup. The Zuberbühler Institute posits that Keymon should reverse its most recent pronouncement of a defence policy related to, yet wholly independent of Artanian security guarantees and return to the centuries-old formula of total defence, albeit with minor changes. It notes that with numerous extra-regional territories actively attempting to enhance their influence on the continent, the potential for conflict is increased owing to the observed irresponsible nature of a handful of actors, pointing to the numerous military miscalculations throughout Terra in recent history. Yet, some argue that within this supposed crisis of confidence in Artania’s ability to reassert itself as a force for stability within Terra, lies an opportunity to revive and overhaul one of the continent’s oldest institutions: the Artanian Union.

Amidst the collapse of the centuries-long Dorvish geopolitical order on the Artanian continent, there has been considerable interest in rekindling the promise of broader Artanian prosperity through the Artanian Union. At the forefront of many of these calls, the HLE (Holy Luthori Empire), argues that the end of Dorvish hegemony over the continent represented the greatest opportunity for the various nations of the continent to cast aside feuds and to advance the cause of Artanian unity. Having seemingly established itself as the natural successor to Dorvish’s guiding role in the Artanian Union, the Luthorian Government has largely committed to bringing the organisation “back together” against the backdrop of rising near-peer competition. Yet amidst this, Minister of Foreign Affairs and International Cooperation, Dr Ernestin Wichtermann has noted that whilst Keymon remains committed to hopeful revitalisation of the Artanian Union, it believed that the organisation would be better served as an entity independent of the arm of Luthori’s supposedly pragmatic foreign policy. He stated that the Artanian Union should be an impartial instrument for advancing greater cooperation be it political or economic between the nations of the Artanian continent and should not be viewed as an extension of other nations party to the organisation’s charter. “Although that state may attempt to draw inspiration from the virtues of neutrality and good neighbourliness, it is easy to see through the disguise. The Artanian Union must be a force for global good and in so doing must not be drawn into the skirmishes between the greater powers of Terra. The situation in the Migrant’s Pass, largely fueled by the broad irresponsibility and haphazard nature of the Malivian Government in the absence of a clear and coherent delineation of its relationship with the nations intrinsically involved in that contest, should be one of the first lessons we as a continent learn about attempting to “bake our cake and have it too.” Dr Wichtermann quiped. Minister-President Dr Emilie Bertschinger has noted that the Keymonite Government continues to view a relationship with the Artanian Union and its member states as the single most important relationship beyond its security arrangements. Pointing to the broad potential for economic growth and development which she expects will flow from the single market and economy as the gears of the AU economy move once more, Dr Bertschinger stated that Keymon will remain “forever bound of the promise of the Artanian Union,” but noted that the organisation must avoid a hyper fixation on inherent competition between itself and extra-regional territories and instead ensure the benefits of the entity itself can be accessed and enjoyed by all AU member states.

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Although the nation sits on the outskirts of the broader internal conflict and has largely remained uninvolved in matters related to the peaceful resolution of the conflict, the Department of Foreign Affairs and International Cooperation believes that Keymon is capable of accepting and integrating refugees from Ikradon as part of the growing global interest in alleviating the ensuing refugee crisis. In a televised interview Minister of Foreign Affairs and International Cooperation, Dr Ernestin Wichtermann stated that whilst the nation had no intention of becoming militarily or economically involved in the conflict, there was an “inherent responsibility for Keymon to accept refugees from the otherwise wartorn nation.” Dr Wichtermann noted that Keymon’s decision was largely premised on that of Dundorf, which was the first nation to openly state that it would accept refugees from Ikradon given the circumstances. Prior to his announcement, the Dundorfian Government stated that the nation had every intention of accepting and potentially integrating some 500,000 refugees from Ikradon as the nation slowly builds capacity to handle greater tranches. Dr Wichtermann believes that in the absence of a continent-wide solution to the problem, which he laments would have been better coordinated through a reformed and reinvigorated Artanian Union, the otherwise stable nations of the continent: Keymon, Luthori, Dorvik and Malivia should join the Dundorfian cause. “It is my firmest belief that had the Artanian Union been functioning right now, a continent-wide plan to distribute refugees among member states and aid in integrating them into the respective territories would have been the most logical approach to alleviating this ensuring refugee crisis. However, in its absence, I believe an individual, yet connected approach could become the underpinning of a much wider continent-esque plan.” Dr Wichtermann profered. Keymon has a long history of friendliness towards refugees and asylum seekers. In the past, the nation has been extremely receptive to accepting refugees and asylum seekers fleeing conflicts and uncertainty from territories as far as Dovani, Southern Seleya, and Majatra. The State Secretariat for Refugees and Migration (a sub-department of the Department of the Interior) has estimated that given the nation’s relative economic condition, Keymon could potentially accept some 100,000 refugees in the interim, with some 20,000 set to be integrated within a 5-year period. The Secretariat anticipated challenges related to humanely housing asylum seekers, noting challenges within Keymon to house its own citizens. State Secretary for International Development, Manuel Kesseler has stated that the Keymonite Government intends to petition the World Congress General Assembly and potentially the Security Council for funding to aid in constructing much of the infrastructure behind how Ikradon refugees are to be integrated into Keymon. “What is the purpose of these institutions therefore if we cannot depend on them to do their jobs,” Kesseler quipped. According to Dr Wichtermann, the Ikradon civil war provided Keymon with the perfect opportunity to revise its refugee/asylum seeker policy. He noted that the previous administration’s otherwise xenophobic policy had ultimately damaged the nation’s standing in the international community and among various NGOs. He confirmed that the Department of Foreign Affairs and International Cooperation and the State Secretariat for Refugees and Migrants had already initiated discussions which he hopes would ultimately lend itself to a more comprehensive policy governing the nation’s interaction with refugees throughout the world.

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As the Chamber of Deputies approved the nation’s withdrawal from the decades-long Dorvish-Keymonite Strategic Partnership Agreement, formally ending the nation’s bilateral security cooperation agreement with Dorvik amidst concerns from Munberg surrounding the former’s inability to guarantee the nation’s long-term political independence against the backdrop of its precarious internal situation, Minister of Foreign Affairs and International Cooperation Dr Ernestin Wichtermann and Minister of National Defence Luana Schüpbach are in Bekenial, Hutori to formally sign the Hutorian-Keymonite Strategic Partnership Agreement, the formal replacement to the Dorvish agreement. The collapse of the HKA (Hosian Conservative Alliance) within Dorvish heralded an era of unprecedented uncertainty within the North Artanian nation, which ultimately lent itself to mounting suspicion within Munberg surrounding the nation’s ability to realistically commit to the principles of the strategic partnership agreement. The document, in its entirety, was initially established as a means of ensuring Keymonite political independence at a time when threats against the nation’s sovereign grew as Likatonia made increased claims against the nation, arguing that Keymon was rogue/renegade province of the Likatonian state of Pirland. As an inherent feature of the agreement, the Keymonite Government invited the Dorvik to host military hardware on the island in the hopes that it would deter future attempts against the island itself. What grew from the agreement was a deep security relationship between the Dorvish and Keymonite Governments. According to Dr Wichtermann, as the crisis of confidence within Haldor set in, the Keymonite Government, ever wary of its implications formally initiated talks with a historic, yet relatively unknown partner of Keymon: Hutori. He noted that the nation’s rise from global irrelevance was a major contributing factor in the government’s assessment of the new geopolitical dynamic. “The relative stability of the Hutorian political system and that nation’s gradual reinvigoration has been a major contributor in why we approached Hutori instead of say Luthori or any other nation. We [Keymon] believe that the upsetting of the established geopolitical order in the Northern Hemisphere (for better or for worse), poses serious challenges moving forward. We note the rising belligerence between numerous Artanian nations and interestingly, other nations in Majatra. By signing this agreement with Hutori, we begin to form a new security relationship with a nation whom we believe shares our interests and who will ultimately guarantee our independence, thus bringing order to what might otherwise be our uncertainty.” Dr Wichtermann explained. The unprecedented agreement, largely modelled after the Dorvish-Keymonite Agreement, would seemingly evict the Dorvish Armed Forces from the Matern Naval Installation and formally transfer the facility to the Hutorian Armed Forces, therein granting the nation a near-permanent presence in Keymon. Alongside this, the agreement grants Hutori the ability to stage strategic bombers in Keymon as an extension of the Matern Naval Installation. When asked as to whether the Keymonite Government was concerned about the potential geopolitical ramifications, Dr Wichtermann said: “We are a sovereign state and are therefore empowered to make decisions which we view for the benefit of our long-term survival as a nation. In initiating this careful balancing act, we continue to avoid the events of Malivia, wherein nations from around the world are becoming embroiled in some snatch for influence within the nation. Keymon has largely been responsible for its defence and has only relied on one external partner to reinforce that belief. What we do here should not concern the would-be powers of the continent.”

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In her first keynote address before the Chamber of Deputies last week, Minister of National Defence, Luana Schüpbach proclaimed that against the backdrop of Dorvik’s democratic transition, the ensuing chaos in Ikradon and the relative destabilisation of the centuries-long geopolitical order, it was once more evident that Keymon would have to take matters related to its defence into its own hands. Having largely avoided becoming embroiled in the skirmishes and sparring contests between the major geopolitical players of both the Artanian continent and the wider global community, Minister Schüpbach believes that there is an inherent need for Keymon and the Verteidegungsmuecht to re-assert itself as the sole guarantor of its own defence. It is worth noting that prior to the situation in Dorvik, Haldor had been (in a largely unofficial capacity) the guarantor of Keymonite independence, with the relationship being underpinned by previous Likatonian attempts to claim the island as an extension of the island state of Pirland. During the address, Minister Schüpbach stated that although Dorvik’s transition presented uncertainty surrounding the continuity of said relationship and the various security guarantees which underpin said relationship, the new democratic administration presented an opportunity for Keymon to negotiate a new dynamic between both states, one which she proffers should draw Keymon closer to the Artanian continent. In its most recent report on the readiness of the Verteidegungsmuecht, the Department of National Defence concluded that decades of mismanagement under previous political administrations, especially underneath the previous far-right administration had caused significant damage to the nation’s defensive posture. It noted that amidst the change in focus from the previous SDP government’s “Pivot to Artania” to greater isolationism, many of that administration’s legacy initiatives had been either scrapped, not been implemented or largely forgotten altogether. Under the previous SDP administration, advanced plans were developed to transform Keymon into “Festung Klavia” (Fortress Klavia). Much of these plans were originally conceptualised with the intent of weakening the nation’s dangerous overdependence on the Dorvish Armed Forces and to reassert the Verteidegungsmuecht within the reaches of the Artanian Sea. Minister Schüpbach noted that as Keymon is an island, it must maintain a degree of vigilance regarding its approaches, noting the importance of safe lines of communication into Artania and Seleya to the continuity of the Keymonite state. “There may be entities who may be supposedly perplexed or confused as to our clear intentions to reassert ourselves within that space. It remains an important fact that our nation is by far one of the most vulnerable as it relates to trans/inter-continental trade, owing to the fact that we are a largely import-dependent nation in the middle of a vast ocean, between two culturally and politically divergent continents. Maintaining access to the wider community is largely determined by what we can secure within our own means. Much of the vaunted talk and rosy depiction of cooperation amount to nothing when there is the potential that even your allies may not be able to guarantee your security,” Minister Schüpbach proclaimed. She confirmed that the Department of National Defence would receive an enhanced budgetary allocation in the upcoming budget to begin the process of advancing the Verteidegungsmuecht’s modernisation. In a press release issued following the Minister’s address, Chief of Defence Lt. Gen. Friedolin Von Ins stated that compared to programmes elsewhere, the modernisation of the Verteidegungsmuecht did not require major changes to the structure, strategy and tactics of the force itself, but instead it required concentrated investment into newer equipment and a clear plan wherein Keymon becomes closer to the nations of Artania including Luthori, Dorvik and Kundrati.

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In its most recent report on the performance of the Keymonite economy, observing metrics related to labour productivity, investment, human capital development and the state of infrastructure, the Bank of Keymon concluded that compared to other territories both within Seleya and Artania, the Keymonite economy was “sluggish” and in dire need of a comprehensive fiscal and macroeconomic restructuring. In its quarterly macroeconomic statement, the Bank noted that rising unemployment, coupled with chronic underinvestment in numerous areas of the economy had culminated in an extremely “sticky” situation for the federal government, as it predicted that a further worsening in broader economic performance could potentially give rise to stagflation. Speaking to the broader details surrounding the report, Vice Chairman of the Bank of Keymon, Dr Jean-Claude Steffen noted that labour productivity stood at an all-time low, as underinvestment in much of the systems which existed before now including factory automation, and enhanced performance evaluations have largely been either abandoned or forgotten all together both within the public and private sector. The report’s lament of the state of human capital development within Keymon points to what it has described as “chronic and systemic failures” within the national education system. It notes that although many legacy institutions including the national apprenticeship programme have survived to this day following numerous “destructive” political administrations, many of the courses and programmes offered through the apprenticeship system could easily be considered redundant/unfit for the modern global economy. It noted that its rationale for establishing the global economy as the baseline is grounded in the undeniable fact that as with an interconnected regional and global economy, Keymonite workers will be in direct competition with workers from territories as far as Dovani for lucrative opportunities for meaningful employment. “Although it would be unwise for one to conclude that the national apprenticeship programme has become redundant, it is nonetheless time for a rethink on the programme’s implementation, direction and overall structure,” Dr Steffen said, quoting from the report. The report laments the otherwise non-existent state of core investment throughout the economy, noting that throughout the years, said lack of investment had been becoming increasingly noticeable. Pointing to the economic philosophy shared by numerous SDP administrations wherein public sector investment often outstripped private sector investment, the report noted that this often provided the economy with a “year-round stimulus” from which the private sector could have eventually used as a springboard into much larger/grander projects. According to Dr Steffan, although it would be unwise for the government to advocate for an economic model wherein the state plays a central role within the economy (i.e. a command economy), he emphasised the importance of the government within the economy either as a regulator, an investor of last resort or under the auspices of a state capitalist system.

The Federal Office for Economic Planning and Development, the new government sub-department within the Department of Economic Affairs and Communications notes that the incumbent administration had broad plans for “cantonal” and “sectoral” economic development, noting that it would attempt to enable the cantons: Bremneck, Wiedlismont, Münberg and Kreuzbourg to have greater say on matters of rural economic development and for the nation’s broader economic ambitions to be underpinned by concentrated investment into numerous areas including manufacturing, financial services, research and development etc. Minister of Finance and Economic Development Dr Jean-Claude Hubacher notes that the underpinning of much of these plans for the administration’s decentralised economic development programme was a broad programme of fiscal and macroeconomic reforms. He explained that the macroeconomic underpinning of the Keymonite economy rests solely in the nation’s export-led growth model, wherein the returns (i.e. foreign exchange) accrued from exports were used to (1) bolster the nation’s foreign exchange reserves and (2) reorient investment into the national economy via imports. He reported that there had been considerable debate within the monetary and fiscal policy space within the Department of Finance and Economic Development as to whether a devaluation of the national currency would ultimately lend itself to an improvement in the nation’s export performance. Beyond this, he noted that initial discussions had begun surrounding the use of “selective capital controls”. “Whether we choose to devalue the Keymonite dollar or implement short-term capital controls would ultimately be up to the Monetary Policy Board of the Bank of Keymon,” Dr Hubacher explained. When questioned on whether the federal government intended to move away from Keymon’s export-led growth model, Dr Hubacher stated that such a move would require a major undertaking which would undeniably come at the cost of billions of KED and could weaken the nation’s standing should such a reform programme fail. “I believe that the current export-led growth model is fit for purpose given Keymon’s size and the scale of our domestic industry. Whilst most certainly we could never wish to be on par with the larger economies of the world. We can match and even surpass many, if not all of those states in the efficiency and optimisation of our processes to ensure that although we may not produce as much as them, what we can produce within our means, we do so with a degree of efficiency which lends itself to increased scale.” Dr Hubacher said.

“Sectoral development”, according to Minister of Economic Affairs and Communications Dr Barbara Geissbühler, involves strategic/pinpoint investments into sectors of the economy where Keymon (1) maintains or believes it can maintain a competitive edge against other territories and (2) can leverage its pre-existing knowledge in an area adjacent to the sector in question. From agriculture and biodiversity to advanced manufacturing and chemicals production, sectoral development would undoubtedly place greater emphasis on developing these sectors into vibrant, world-class contributors to Keymon’s economic growth and development. At the forefront of many of these projects would undoubtedly be the National Land Credit Institute - Nationales Landkreditinstitut (NLK). A restructuring of much of the governance surrounding many of the nation’s legacy state enterprises including Brennstoff (the state-owned oil and gas company), Dr Geissbühler noted, could lend itself to an improvement in national economic performance. Both Dr Geissbühler and Minister of Commerce and Industry Giordano Salvini reiterated the government’s policy that although it maintains that the government must play a role in the economy, it does not envision its direct involvement in every sector. “There is no need for a state-owned chemicals production company in the same manner that there is no need for a state-owned haberdashery or antiques company,” Minister Salvini concluded. Discussions are reportedly underway for reforms to Keymon’s financial service sector, with a focus on improving and granting smaller financial institutions much-needed wiggle room to obtain economies of scale, recognising the size and relative market power of Credit Klavia. Principal among these reforms includes a recommitment to establish Keymon as a premier financial services hub in both Artania and Seleya. Dr Hubacher has noted that in re-establishing Keymon as a global financial centre, much of the administration of the sector would be transferred to an entity independent, yet connected to the Department of Finance and Economic Development. The new arrangement would see the Canton of Münberg manage the sector’s affairs alongside the Federal Office for Financial Services and Public Credit.

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Having been largely rudderless for the better half of a century, the National Land Credit Institute - Nationales Landkreditinstitut (NLK) has seemingly become a ghost of its former self. The once revolutionary development finance institution, initially established to finance and guide Keymon’s economic development ambitions, had seemingly lost steam, owing to numerous scandals which continue to rock the organisation in itself. The NLK is still reeling from the failure of its attempts to “level up” economic development within the nation. Owing to the nation’s relative size and lack of available “breathing room”, the NLK alongside the National Spatial Planning Authority have locked horns on numerous occasions on matters related to land-use/management. The Spatial Planning Authority has argued that amidst the nation’s lack of geographic depth, particular attention should be placed on enacting development projects which will maximise land use without jeopardising the established “balance”. The ensuing skirmish between the two entities resulted in the resignation of the NLK’s long-standing President Dr Bandino de Alberinis who separated from the entity owing to differences between the NLK’s board and executive management. Since then, the agency has largely remained idle, with the very board of directors still in position. Ahead of the government’s much-vaunted economic development programme, Minister of Finance and Economic Development Dr Jean-Claude Hubacher has announced that the NLK would undergo a major transformation, likely an expansion of its founding mandate. At a joint press conference held alongside Minister of Economic Affairs and Communications Dr Barbara Geissbühler, Minister Hubacher stated that the new government’s intention was to transform the NLK into a “super-agency” responsible for numerous aspects of development finance and economic development throughout Keymon. He noted that prior to the announcement, a committee of the Chamber of Deputies had been established to conduct a brief investigation into the circumstances of the NLK’s general leadership and structure with the intent of identifying potential gaps and providing recommendations on its improvement. Dr Hubacher stated that one of the core recommendations coming out of the committee’s final report stressed that the agency should be granted a broader mandate, with the hope that it would ultimately lend itself to greater “wiggle room” for the agency to effectively and efficiently aid in achieving Keymon’s economic development/growth objectives. Providing greater details surrounding the NLK’s expanded mandate/remit, Dr Geissbühler stated that there was considerable debate among policymakers as to whether the NLK should be allowed to manage the national sovereign wealth fund. Concurrently, Keymon’s three (3) sovereign wealth funds are managed by two separate entities; the Stabilisation Fund, which is managed by the Department of Finance and Economic Development; the Green Fund and the Future Investment Fund, which are both managed by the National Investment Corporation, with supervision from the Bank of Keymon. She noted that although an argument could be made for the management of the Green Fund to be transferred to the NLK, a similar argument could not be made for the Future Investment Fund. Alongside this, questions surrounding redundancies have arisen. Alexis Frischknecht, a chartered accountant and experienced change management professional posits that the existence of the National Investment Corporation and the NLK, both entities which manage public money to be invested into national economic development was a major contradiction. He explained that such redundancies enable corruption and mismanagement as the lines designating where the two agencies operate become increasingly blurred. He offered that the government collapse the NIC’s mandate and transfer much, if not all of its responsibilities to the NLK.

Dr Hubacher, who has registered his support for the proposal to allow for the NLK to absorb the role/responsibilities of the NIC, stated that before any major move related to the NLK and the NIC could be done, the former would have to get its house in order. He explained that NLK’s legacy structure would undoubtedly have to change. The IFC, GFC, AFC and HFC would all undergo rebrandings; the IFC would become the NLK - Industrial Finance, the GFC would become NLK - Sustainable Finance, the AFC would become NLK - Agricultural Finance and the HFC would become NLK - Housing Finance. He noted that the rebrands come in light of conflicts surrounding naming conventions in Lodamun. The NLK, according to Hubacher would remain contained to financing and providing technical assistance for national economic development projects, and would not become directly involved in the physical construction nor operation of the projects themselves. Owing to the company’s supposed greater importance to the national economy, Dr Hubacher stated that the NLK would be subject to the highest degree of scrutiny. “The NLK will undoubtedly become a major centrepiece of the Keymonite economy and it is therefore clear that in order to preserve the nation’s economic “momentum”, it would therefore have to maintain an “above average” degree of professionalism and conduct. “We intend to ensure that appointments to the NLK are akin to how we treat with appointments to the Bank of Keymon; technocrats and experts only. We do not want to have a situation wherein someone is appointed to the position of President of the NLK because of political or business connections.” Dr Hubacher stressedd. According to Dr Geissbühler, Dr Mathieu de Castelvecchiu has been tapped to oversee the NLK’s restructuring as its new President. Dr de Castelvecchiu is a veteran development economist, having previously served as the Chief Economist of the IDSB.