Financial Crisis News

[Aquinas]

Katina Lesya Yurievna

Katina Lesya Yurievna, the world-renowned Professor of Economics at Trigunia's Yuravitovo University, has warned governments against "falling into knee-jerk, ideological austerity mode" in response to the growing global economic crisis, triggered by the financial crash in Dalibor. Yurievna, a leading proponent of the Kodonist (OOC: Keynesian) school of economic thinking, urged governments to "borrow now to deal with the emergency, and pay the money back in better times". She warned that "if harsh austerity measures are introduced in country after country, what we will see is a worsening and a prolonging of the global recession - and that will be much more expensive in the long-run".

Yurievna reserved special criticism for the International Union for Economic Protection (IUEP), which urges governments to aim to achieve budget surpluses. "Too many nations are addicted to the fetish of always running a surplus, but that's not good economics when you're heading to recession," she said. "Governments need to work towards refloating their economies and getting economic growth back on track, not on satisfying the demands of unimaginative, narrow-minded accountants working at central banks and treasury departments".

[General.M]

Arms manufacturer in trouble!

A factory of the worldfamous DFN
DFN (Defence Fabric Nachten) is in financial trouble. DFN is a arms manufactorer in Vanuku which is famous for its small arms used by the Vanukean army and other armies over the world. Because of the worldwide financial crash the international community is cutting defence expences and not investing in new arms. According to national law the DFN is suitable for funding of the federal government. The national law says that the government is allowed to fund companies that provide vital goods or services. If DFN goes bankrupt the weapons used by the Vanukean army and other armies will be useless.

[kj#2]

Former President and Whig Party Chairman Elmer Clark

Whig Party criticizes lack of action by Rutania's national government amid growing International financial storm

In an an angry speech in the Peoples Assembly Elmer Clark, the aging Former President and current Chairman of the Whig Party, gave harsh criticism of the current government led by Prime Minister Otto Rivers of the Eco-Socialist Movement:

This government has it's head buried in the sand as markets across Terra are falling apart, how long do they plan to wait before they offer a solution to prevent the catastrophe from spreading to Rutania to the People's Assembly? They are foolishly continuing their wrong-headed progressive agenda attempting to push bills through this body to make sure that minorities get special preference when applying for a job. While they sit around coming up with ideas to help the Ibutho and Gao-Showa millions of hard-working white Rutanians are suffering. Can the government truly believe that this sort of racial boot-kissin' is what we should be pursuing? If so they are out of touch and possibly and probably lacking of ideas!

--------------Cheers from Whig Caucus-------------------------------------

I am proud to say that my party and myself are working tirelessly for the White Rutanian working class, we have introduced legislation to give all Rutanians a 5% tax break, we have been struggling to work toward a compromise on Corporate tax reform to lift the burden on the already worried businesses in the Commonwealth. And I am quite proud to announce that we have presented and will continue to work toward a final draft of a Foreign Disentanglement Act to break the shackles that attach us to risky foreign entanglements.

Referenced bills:
http://classic.particracy.net/viewbill. ... lid=516507
http://classic.particracy.net/viewbill. ... lid=516639
http://classic.particracy.net/viewbill. ... lid=516496
http://classic.particracy.net/viewbill. ... lid=516656

[Aquinas]

January 4204

Yurievna slams rich countries over agricultural protectionism



Top Trigunian economist Katina Lesya Yurievna has spoken out again about the growing Terra-wide depression, warning rich countries that it would be "a moral crime to neglect the welfare of the poorer parts of the world during this time of hardship", and urging in particular that they should "cut back on agricultural subsidies and agricultural trade barriers, to give the poorer countries a fair chance to compete fairly in the world market when it comes to exporting agricultural produce".

She reserved special scorn for Hutori, Indrala, Kalistan and Trigunia, 4 of the richest nations in Terra which all subsidise their domestic agricultural producers, calling them "irresponsible and selfish, putting domestic sectional interests before the needs of the world's poor".

[adgrab20]

With the economic depression hitting everywhere the United Fascism Party of Ponesti introduced the Bilateral Trade Agreement Promotion Act. This will encourage the Minister of Foreign affairs to promote BiLateral trade deals instead of large trade deals. This will protect manufacturing and the hard working members of Pontesi. Foreign governments are encouraged to reach out to Faustus Vitellius Remus (United Fascism Party Minister of Foreign Affairs) if they are interested in a bilateral trade deal.


http://classic.particracy.net/viewbill. ... lid=516475

[Aquinas]

July 4204

Bail out Terra, Yurievna tells Big Five



Katina Lesya Yurievna, the outspoken Kodonist (OOC: Keynesian) economist from Trigunia's University of Yuravitovo, has urged Terra's 5 strongest economic powers, Hutori, Indrala, Kalistan, Trigunia and Vanuku, to set up and invest in "a new international lending institution, to get the world economy back on its feet again". She called on the 5 nations to "borrow heavily at the cheap rates they can attain, and then lend the money out, to help out governments and banks with their liquidity problems". She denied this would be "charity", arguing that "in the long-run, these governments would be getting a good deal, because it would shorten the recession, and that would mean their big economies would gain the most once the world economy picks up again".

Yurievna also repeated her attack on governments "being obsessed with the fetish of the balanced budget, refusing to understand that when recession hits, you need to borrow money to get you through, so that you can then pay the money back in better times". She particularly criticised Indrala, which she called "an economic giant which is stupidly, blindly, self-destructively and selfishly running a gargantuan budget surplus at a time when it should be working to increase aggregate demand and get the world economy moving again".

[Aquinas]

July 4204

Bishop Orlov blames global recession on "abortion, condoms, contraception, homosexuality, lesbianism, witchcraft and lack of faith in Boh"


Bishop Gennadiy Orlov of Volosgrad

Bishop Gennadiy Orlov of Volosgrad, Trigunia, has provoked a stir of controversy after delivering a speech to the Trigunian Family Association where he called on his listeners to "focus on the spiritual reasons for the recession, not the economic ones" and blamed the global downturn on "the cumulative effects of abortion, condoms, contraception, homosexuality, lesbianism, witchcraft, blasphemy and lack of faith in God".

He claimed the "culture of death" was causing "a decline in the growth of the population, and a population imbalance, where there are not enough young working people to carry the burden of the economy". He also suggested that "people all over Terra are turning away from Boh, and when that happens, Boh turns away from them", citing in particular the growth of secularist attitudes and the popularity of witchcraft and new age religions.

In the questions and answers session after the speech, an audience member asked him what economic policy governments should subscribe to. He responded by dismissing suggestions for the establishment of a major international lending institution, arguing the scheme was "just economics, and economics doesn't work because Boh listens to prayers, not to economics". He argued instead that "if people want to end the recession, they should pray to Boh, and if enough of us pray earnestly enough, He will deliver us from this tribulation".

To the visible dismay of some audience members, he went on to argue:

Instead of investing in banks and governments and even charities, people should invest in Boh, and that means donating your money to the Terran Patriarchal Church, so Boh can use your money as He wishes to use it. I'm telling you, I'm appalled how, just here in this little city of Volosgrad, I'm seeing people stopping paying their tithes and refusing to donate like they used to. They say they don't have the money, but that's rubbish, because you see them spending their money on all sorts of nonsense they don't need. If you cut back on your donation to Boh, how much respect are you showing him? How much faith are you putting in him? I'll tell you the amazing thing, and I say this from decades of experience as a priest: the people who donate more to the Church get richer, because Boh blesses them. The more you give to the Church, the more Boh blesses you in every aspect of your life - even in aspects of life you've not even thought about before. So put your faith in Boh and don't be cheap with him.

An audience member asked him whether, in response to the recession, the Terran Patriarchal Church ought to sell off some of its gold and other assets in order to give money to the poor of the world. He replied that this idea was "blasphemous", because "we honour Boh by building great churches and ornamenting them in splendour, and to suggest we cut back on that is to suggest we worship Boh less".

[Kubrick]

Former King of Vanuku offers New Verham bail out
King Juhn VI, the Vanukean monarch in exile, wants to use private wealth to save his host nation.


The Banmek-Sntazed Tower in the capital of the Republic of New Verham.

July 4204 - The former head of state of Vanuku, King Juhn VI of the house of Banmek-Sntazed, has resided in the Republic of New Verham ever since the Republican faction deposed him. The King has been living here comfortably in the Banmek-Sntazed Tower, a massive skyscraper formerly known as the BSH Tower, with his wife in the penthouse while the staff of his company continue to work in the other floors. BSH, also known as Banmek-Sntazed Holding, is the private company of the royal family of Vanuku and has acted as a money generator for the old dynasty for hundreds of years. Through clever investing the King's wealth has massively risen in the years before the recession. The King has always shown his affection for the New Verhamese people, calling them "true siblings of my own people" and stating that "Wiel is home but in a way New Verham feels more like home at times". Within the community of the New Verhamese the King has a reputation of being a bit of a philantropist, often financing projects to help the poorest within the third world nation. Though now that the recession has gripped the nation in full effect and the government is close to declaring total bankruptcy the ex-monarch has made a rather absurd offer to personally bail them out. Economical experts have noted that the King could never fully finance a New Verhamese bail out but by keeping some parts of the government alive he could very well save the nation from total downfall. For the King himself the price would be great, his many billions would turn into a handful of millions. Though in a public statement the King made it explicitly clear he does not care about the lack of wealth. "The world goes before my personal greed, I have lived a long and blessed life, the New Verhamese people welcomed me when I no longer felt welcome in my own nation, I have a debt to repay" is what the King said at the press conference in the Banmek-Sntazed Tower. It is unknown if the New Verhamese government will accept the generous proposal.


Coalition of "national unity" vows to stabilize national economy
Large tax cuts, budget boosts, bail outs and jobs projects have been started.


The architect of the government plans proposed by the Crown Party: Frederick Obmé.

July 4204 - By the time the economic crisis hit the Crown Party emerged victorious from the elections within the two party republic. With the slight margin a normal cabinet was formed from Crown Party members. Yet quickly it became clear that the worldwide recession was far worse than it seemed at first. The measures of the Republicans had already somewhat stabilized the downward spiral in Wiel, yet the Crown Party coalition under Prefect Hacr felt there was more to do. Minister Obmé of Finances was assigned to be the architect of a plan for national restoration and international stability. Obmé, often cited as an admirer of Katina Lesya Yurievn, called for Kodonist measures in these times. Even though the Crown Party is known as a right-wing monarchist party they often promote Kodonist economical values. Frederick Obmé was put at the head of a special team to devise a way to deal with the recession within Vanuku. With his proposed plan the national taxes were lowered, the Republicans were included in the coalition to form a grand cabinet for national unity, budgets were further increased, bail outs were given to the DFN small arms manufacturer and there are further plans to bail out Vrijstaal and the shipyard of Havendam, both essential companies for the survival of the Vanukean economy. Though Minister Prince Wrntukai Banmek-Sntazed of Justice has insisted that the people responsible for the fraud within Vrijstaal will stand trial. As a last plan a large job project has been set up to provide paying jobs with the years of surplus money the government accumulated.

Obmé and his team of economical specialists insisted on lowering taxes to make sure the Vanukean people can continue investing money into the economy. The job project will put people to work, even though it will mostly be manual labour jobs but Obmé insists that sacrifices must be made and that people must simply accept paying jobs, even if they are overqualified. Prefect Hacr has also stated he has heard the call of Yurievn to bail out other countries and the cabinet is currently looking into the possibilities of setting up cheap loans for nations across the globe. Minister Jaap Mulder of Finances, Obmé's successor, has been asked to prepare such a proposal for the Grand Council.

[Oakwood]

Created at the suggestion of Aquinas.

[Oakwood]

'Reine Marie' offers 'gift' to Dalibor.

Dalibor- The wealthiest woman in the world has reportedly offered the nation that started the global financial crisis a 30.2 Billion LOD rescue package, financed entirely from her own purse.

The Queen cited her "love of the people of Dalibor" as the reason for the emergency funding. Nonethless, several economists have said her actions could not have come at a better time; with many of the worlds government's currently cash strapped, her funding of the Dalibor government shall create a much needed economic stimulus which shall hopefully allow the global markets to somewhat ease their panic.

Whatever the reason, it has likely already achieved its aim; once more, the former Queen is back in the headlines. Already she has been in more magazines on both sides of the world, and spoken in more interviews than the new Sultan, or indeed herself when she was formally Queen of Barmenia. Yet her celebrity has reportedly come at a cost; rumors abound that her former party is now keen to shed her legacy and that of her family. Indeed, there are even reports that her former party shall change its name.

Nonetheless, for now, the former Queen can relax; she has no lack of love from the people of Dalibor.