Financial Crisis News

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Re: Financial Crisis News (RP)

Postby Locksley Holdings » Sat May 20, 2017 6:56 pm

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Re: Financial Crisis News (RP)

Postby Axxell » Sun May 21, 2017 8:37 am

OOC: I don't know if this is the right topic, I searched the topic created by aquinas for the RP coordination of the financial crisis but I didn't find it.
So, I would like ask: it's been more than ten years (13 yeaes maybe) since the begin of the financial crisis. What now? But more important question: the ones which had to follow the developement of the RP and then determine new ranks are returned? They are "working" on this? How long does it last?

Thank you
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Good news for Malivia

Postby Corvo Attano » Sun May 21, 2017 11:33 am

April 4214

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A lot of people the stability of the formation of a unity government to tackle the economic crisis in Malivia. But they stand at awe to see that the passing of the ERCC bill helped tremendously to stabilize the Malivian economy.

The budget went into a deep deficit of 70 billion for a year but because of the stimulus the GDP skyrocketed to 725 billion. Now after 6 months of restructuring and assimilation of the stimulus package the economy has stabilized at 657 billion.A far cry of the 612 billion before the crisis.

But the work is not done yet says the Economic Recovery Committee of Malivia.

The Statement is as follows by the finance minister Angelina McLachlan

"Over the course of the crisis, the making of monetary policy has become progressively more complex. We have operated in an environment where the limits of our traditional instruments have been tested, and where new instruments have had to be introduced. This has required adaptation, not just by those of us who decide on it, but also by the Watchers who observe it and attempt to anticipate it.
Meetings such as this today have therefore taken on a special importance, since they represent an opportunity to communicate in both directions: for us to explain to you our assessment and our reaction function, and for you to provide your feedback.
So in that spirit, I would like to make three points today.

First, that our policy is working and that it has been a key factor behind the resilience of the Malivian Crown.

Second, that the recovery is progressing and may now be gaining momentum, though risks still remain tilted to the downside.

Third, that despite these improvements, inflation dynamics continue to depend on the continuation of our current monetary policy stance – a stance that is determined by the interaction between all three main policy instruments: interest rates, asset purchases and forward guidance on both. One thing is certain though our policy is working and we will continue to strive for the best outcomes.

Thank you for your time."
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Re: Financial Crisis News (RP)

Postby Apulia-2 » Sun May 21, 2017 7:58 pm

Bank Failures Hit Record High in Hutori

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President Reardon was defeated in her re-election campaign, and blamed her defeat on an international cartel of merchant banks

Following the failure of the National Progress Party's bailout bill due to a coalition of far-left and laissez-faire advocates, on which much of the hope of the big banks was riding, Hutori's bank failure rate has gone through the roof. Former President Jennifer Reardon, chairwoman of the laissez-faire United Hutori under whom the bill failed, hailed these numbers as evidence of a "clearinghouse" of "the merchant banks".

The Hutorian economy is expected to again nosedive. Former Chairman of the Williams School of Economics at Williams University in Kenai, now a United Hutori Senator John DeCosta gave a speech in Bekenial claiming that the bank failures were necessary in order to have long-run economic prosperity.

Hutori had a financial bubble. We all quietly watched as the financial sector grew and grew on bad credit. The big banks were all expecting a bailout, and when the bailout didn't come, it really shook things up.

What we're going to see is that things are going to get a lot worse before they get better. There's plenty to do, though: we can cut taxes more, and we can deregulate. The more we get involved, the worse things will be.


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John DeCosta, who briefly served as Minister of Trade and Industry
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Re: Financial Crisis News (RP)

Postby Aquinas » Mon May 22, 2017 1:30 am

July 4124

Yurievna proposes controversial taxes to fund new international economic institutions

Trigunian economist Katina Lesya Yurievna has delivered a speech to the Terran Economic Institute in Petrograd, Trigunia, where she called on the governments of the World Congress to work together to introduce two special new taxes.

The first, which has become popularly known as the "Yurievna Tax" (OOC: similar to the Tobin Tax), would impose a small tax on all short-term international financial transactions, particularly transactions on the currency market.

The second, which has been dubbed the "Windfall Tax", would impose a one-off tax on Terra's wealthiest corporations, including the fabulously rich Locksley Holdings. With regards to the latter, she expressed concerns about the proposed Poseidon floating city project. "Governments must make sure this entity comes under the authority of the law and pays its fair share of taxes", she said.

Under Yurievna's proposal, these taxes would go towards funding a series of new international economic institutions under the auspices of the World Congress. These would include an institution responsible for maintaining exchange rate stability by buying and selling on the currency markets; an international bank, responsible for lending to governments in times of crisis; and an international development institution, with a special responsibility for working with the third world countries.

Yurievna also used her speech to repeat her previous calls for the rich nations to "trade fairly with the third world", arguing in particular that they should scale back agricultural subsidies and tariffs on agricultural imports, and agree a common set of "Corporate Responsibility Standards" in terms of how the rich world's corporations interact with third world countries, especially on issues such as wage levels, health and safety, environmental standards and bribery/corruption.


Yurievna condemns Hutori's "utter madness" in refusing to bail out banks

Yurievna has blasted Hutori's refusal to bail out its banks as "utter madness", predicting Hutori's "entire economy will come crashing to the ground unless they take action very fast". She also warned that allowing financial institutions in Hutori to crash would have a knock-on effect around Terra, and that the consequences of this "could be cataclysmic".


Yurievna praises Kazulia's Economic Stability Fund

Yurievna has expressed her strong support for Kazulia's Economic Stability Fund policy, which is now being drawn upon to cope with the financial crisis. "This is a textbook example of proper economic planning and management", she said. "It is only a pity we don't have an equivalent of Kazulia's Economic Stability Fund on an international level, because if we did, we would be able to cope with recessions a lot better than we are at the moment".


Yurievna cautions Dorvik against steep deficit reductions

Following reports that some Dorvish politicians are talking about wanting to drastically reduce the deficit, Yurievna has warned that "if Dorvik cuts the deficit too fast, it will risk jeopardising its recovery and tipping its economy back in recession". She said she "accepts the principle that as Dorvik recovers, she should look into reducing the deficit" but urged "the deficit reduction should be brought about naturally, through tax revenues increasing as the economy grows, rather than through savage politically-imposed cuts".


Malivian example "shows governments can take on recessions", says Yurievna

Yurievna has praised Malivia for "showing the whole of Terra that when politicians put aside their differences and work together for the common good, they can enact forward-thinking policies which steer their economies back from recession". She said the Malivian case "proves that by determined action, investment and long-term planning, governments can achieve really exciting and fantastic things".

In a warning to certain other governments, she also commented that "capitalism needs state intervention in order to survive" and that "unless governments take responsibility for managing their economies, we risk seeing the spread of communism and other extreme ideas - as we have recently been seeing in Majatra".
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Re: Financial Crisis News (RP)

Postby Adithya » Mon May 22, 2017 1:28 pm

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Re: Financial Crisis News (RP)

Postby Axxell » Mon May 22, 2017 8:19 pm

Istalian assets and investments begin to leave Hutori
Economic accademic warns about the risk of a fall of the Hutorian banking system

MILONA - Ennio Santalamazza, prominent economist from the High Economy School of Milona, warns the international community and Hutori by the fall of the banking system of one of the most developed nations of Terra.
He stated that the Government of Hutori should be more responsible given the position of its nation. Hutori as well as all other largest economy attracted and attracts investments from all over the world and its economy, its companies and its money are obviously present in most part of the global economies.
A failure for very large financial and credit institutions, very common in all the major free market, capitalist nations, could worsened again a crisis from which many nations are find a way to escape by disrupting financial markets, impeding credit flows, inducing sharp declines in asset prices, and hurting confidence.
Billions of billions of... any kind of currency will burn and with them the savings of millions of people, the financing of thousand of private and public activities, the ratings of Hutori will fall and no one will buy government bonds or will invest any more in Hutori. And this could be the fate of many other economies and banking systems, highly interconnected internationally above all in the most developed economies.

But already before the statement of Santalamazza and even of the one by the well known Mrs Yurievna, many istalian funds seems to have started an exodus from Hutori while most part of the bigger istalian companies are sell or disband their assets. It seems that the istalians are not alone and news from abroad confirm that the general confidence in the hutorian economy is quickly decreasing in many other nations.
The President of Istalia called for an emergency meeting of the Government to launch as soon as possible a serious analysis of the financial connections between Istalia and Hutori and between Hutori and the rest of the world. A fall of the hutorian banking system also for the Istalian Ministry of Finance risks to fload the financial markets with toxic assets which could make fall again the global economy with serious conseguences, also more intense compared to the 4204, now that many nations are still fighting against the most severe economic crisis which Terra experienced.
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Re: Financial Crisis News (RP)

Postby Locksley Holdings » Mon May 22, 2017 9:21 pm

Where in the World is Brock Locksley?
And Where is he Going?

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Brock boarding his plane.

Multibillionaire Brock Locksley, the founder and CEO of Oyster and Locksley Holdings has been making some very interesting moves lately that perhaps demonstrate the dire situation in Hutori. To start, Rothswood - a real estate firm which is a subsidiary of Locksley Holdings - is on record as purchasing a large villa and vineyard in Istalia and several adjacent fields. Normally, this wouldn't make the news as Rothswood purchases property all around the world but this is an exceptional circumstance.

Leaked paperwork for the villa, known as the "Casa Sulla Collina", shows Locksley's signature, something which would indicate that the property has been purchased for his personal use. Could this be a holiday home or something more permanent? Reporters have noticed strange activity surrounding the Casa Sulla Collina, namely the extensive installation of security features such as cameras, fences and security gates. Some have suggested that this indicates Locksley's partaking in what has been dubbed "Hutoremove", a preemptive exodus of businesses and people from a nation on the brink of a banking collapse.

Rothswood has also been noted as negotiating the purchase of several commercial skyscrapers in Istalia, which could also indicate that Locksley Holdings is planning a move as well. In Locksley's upcoming Questions and Answer session, we plan to ask him about this, most pertinently, why Istalia?
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Re: Financial Crisis News (RP)

Postby Aquinas » Mon May 22, 2017 11:54 pm

January 4215

Dump monetarism, Yurievna tells Terra

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Responding to Dorvish politician Stella Schaefer's criticism of her Kodonist (OOC: Keynesian) economic policies, Trigunian economist Katina Lesya Yurievna has issued what she described as "a call to every government in Terra to dump the failed ideology of monetarism, for now and forever, and to embrace the proven, tried-and-test economic principles laid out by the great Kodos Fairname, and developed by his intellectual successors". She called monetarism "a ludicrous obsession with balanced budgets and the money supply which can only result in long and prolonged recessions", demanding "we need to lay it to rest - finally - now and forever". She also repeated her warning that Dorvik "will plunge itself back into recession if it tries to cut its deficit too quickly".


Print more money, Yurievna tells Hutori

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Yurievna has controversially suggested Hutori should bail out its failing banks entirely through printing more money. Even one of her own colleagues at her university department, Professor Venyamin Nikolaev, has criticised the proposal, saying it "could be very inflationary".


Don't abandon Hutori, Yurievna tells Locksley

Yurievna has commented she doesn't "usually like to publicly advise private individuals on how they should run their lives or where they should live," but that...

I feel very strongly that it would be wrong of Brock Locksley to just abandon Hutori like this, now that things are difficult in Hutori but looking better in Istalia. He should stay in Hutori and keep his investments in Hutori. Hutori has given him a heck of a lot. He's gotten fantastically and obscenely wealthy out of Hutori. He's taken a lot out of that society and that economy - more than any individual has taken out of any society or economy on earth. So he has a moral duty to stick with Hutori during the hard times as well as during the good times.


More controversially, she later described Locksley as being "like a blood-sucking flea that leaps from dog to dog, only bigger and with more suction power".


Dolphins "first victims of the recession", says Voronin

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Modern tuna fishing methods are widely blamed for depleting dolphin populations

Lera Voronin, Trigunia's Terra-famous "dolphin telepath", popularly known as "the Dolphin Woman", has renewed her campaign for governments to heavily regulate tuna fishing, in order to stop dolphins being caught in nets. She is also waging a vigorous campaign to persuade consumers to boycott tuna in protest. There are signs she has had some limited success in this, although at a time when money is tight, it has been difficult to persuade most of Terra's shoppers to think too much about the ethical factors behind the cheap cans of tuna they are used to enjoying.

In a recent speech to the Terra Dolphin Society in Petrograd, Trigunia, she told her audience that "Dolphins are the first victims of the recession", explaining that "economic circumstances are forcing smaller fishing companies to sell out to bigger companies, and its the big corporations who the worst offenders when it comes to reckless fishing methods which put the lives of dolphins at risk".

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She has also turned her fire on billionaire Brock Locksley over his admission he keeps dolphins in his private aquarium, calling him "an evil, evil man".

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For some years, Voronin has been running a campaign against keeping dolphins in captivity, as she believes this is "very cruel and completely unnecessary and unjustified". She argues dolphins are "by far the most intelligent and emotionally and spiritually sophisticated species on this planet" and that "as humans, we have so, so, so much to learn from them".

In other news on Voronin, at the moment she is using her blog to promote a series of books on "the truth about dolphins", which she is encouraging her readers to purchase and read. A selection of these can be seen below.

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Last edited by Aquinas on Tue May 23, 2017 12:24 am, edited 6 times in total.
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Re: Malivia Financial Crisis News (RP)

Postby Roosevelt » Tue May 23, 2017 12:02 am

Malivia's Economy Recovers As The Economy has Experienced three years of positive growth of 2%,4% and 6% Consecutively

After the general elections of 4211, a new coalition government was formed under the Presidency of Mr Julian Ferdinand from the Unity Labour Party that set out in crafting a new economic deal for Malivian citizens. It saw the government set to task with a well equipped and pragmatic Prime Minister, Finance Minister and Foreign Minister who were in senior positions of cabinet from three different parties that compromised on the economic course of action to which Malivia should take in recovering from the crisis.

President Of Malivia In Parliament giving Speech on Economic Crisis

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The cabinet under President Ferdinand formed an Economic Recovery Committee which consisted of the President, Foreign Affairs Minister, Minister of Finance, Trade and Industry minister, The Prime Minister, The CEO of the Chamber of Industry and Commerce/ Private Sector businesses, Presidents of the two major Trade Unions and the Governor of the Central Bank and his team that was tasked with discussing the policy reforms put forward by the government , political parties and other committee members representing various interest groups pertaining to economic policy initiatives to assist in the economic recovery effort. The President stated that the aim of the committee
was to offer a stimulus package and aim for annual economic growth of 4+% through industrialisation, infrastructural development, expansion in service and agriculture sector and trade.
The committee under the stewardship of the President with a very strong finance minister saw six proposals put forward by the committee and approved by the cabinet which was placed before parliament for a vote to which parliament accepted. These proposals are as follows:

(1)Tax Reform Bill This tax reform which was proposed by the Minister of Finance Ms Angelina McLachlan which saw the introduction of a progressive tax that saw the decrease of income tax of those in the middle and lower class of 15% while increasing taxes slightly on the wealthy by 5% so that it will place less economic burden on the poor and working class to encourage consumer spending .

The Minister of Finance on Tax Reforms

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The minister of finance believed that while these tax cuts for the poor and middle class will raise consumer spending as she said;
that the best way for an economy to grow is when people spend which would accumulate income for not only those in private sector but also for the government through taxes which will fund government programs, create jobs and wealth.
Also these initiatives assisted the government in gaining increased revenues through excise or indirect taxes on goods and services as an addition to the tax reform was the increased excise or indirect taxes on luxury goods and necessities by 4% along with a decrease in corporation taxes by 8% to encourage private sector investment to create jobs in addition to other reforms such as anti-monopoly law enactment( Banking Reform Act- Which saw new banking regulations in place to prevent the monopolization of Banks and also to prevent predatory loan financing to prevent future economic crisis where the central bank working together with commercial banks to cut interest rate as low as 2% so as to give people a chance to access loans giving priority to small and large businesses), legalising gambling , increase minimum wage to line above poverty for full-time workers and legalise industrial hemp to which will also generate income for the government. All these were under the Economic Reform Act


President Ferdinand Unveils New Spending Plan


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The President highlighted that given the projected increase in government revenue and decrease of deficit which will amass tremendous surplus,
it is within the state interest to propose to adjust the government's spending budget under the Minister Of finance Amendment Act section 3 (c), http://classic.particracy.net/viewbill.php?billid=514665 to better address the economic and social situation of the Free State of Malivia to create jobs through the construction sector, agriculture and technology in collaboration with the private sector while decreasing the budget deficit.
The Malivian government expenditure saw the increase in trade and industry, science and technology and infrastructure along with a salary cut for the Presiden to which he urged other parliamentarians to so do as it projected to decrease the unemployment rate to 5% from 10%, create a surplus budget and increase economic activity and provide growth of 6% from 3%. These budget allocations went towards these programs and policies:



Redistribution of land and clear money incentives (like reduced tax) for people to move to newly acquired land and cultivate it.

Creation of a state construction company compromising of paid workers to undertake the construction of said projects.

Giving monetary concessions to companies and businesses in the service sector to expand it.


Giving incentives or concessions to foreign investors and the tourism sector to boost tourist arrival and foreign investment to create jobs and enhance the service sector

The Construction of a new Geothermal energy plant that will see Malivia's energy demands met by renewable sources by 80% as 10% is already through hydro which will cut energy cost by 30% over five years

Government giving concessions to farmers and industries within the Hemp industry that will produce Value added products such as textiles and paper, along with other concessions through handing out of fertilisers aimed at increasing supply in food products

Government boosting trade through working along with the private sector to assist in giving soft loans at low interest rate payable over 10 years to companies that produce value added goods and services especially in food, advanced industries such as software technologies and energy industries in producing solar panels.

Concessions specifically to the fishing industry to improve productivity by purchasing larger fishing vessels and use modern enhanced practices such as fish farms. Moreover, the government plans to construct a new state of the art fishing facility.

Expansion of road programs and building of a new modern railway to increase trade.


Foreign Minister On ratification OF Terra International Bank

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Additionally, it saw the ratification of the International Terran Bank which was supported by all major parties but well accepted by the foreign affairs minister Mr. Lawrence Merahie, as he believed that it will give the Malivian government the opportunity to access loans to further finance other projects through a stimulus package.

Projects already Started/ completed under the government

(1)Geothermal Energy Plant in region of Washebar( Create jobs for 1500 people)


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(2) Hemp Paper and Textile Factories In both Weshebar and Bhulkhandra ( Create jobs of 20000 people)

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(3) Solar Panel Factory in Bhulkandra( created 500 jobs directly and 1300 indirectly)

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(4) Construction of Software Technology Factory inIdhaghra (300 jobs created in construction and 150 will be in software technology)


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(5) Construction of Major roads and Highways Across Malivia including the major Highway construction in Dendhadrash from Kubir to Malakina (35000 jobs)

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(5) Rail Way construction from rural area in Idhaghra to Capital City Hitam creating 10,000 jobs

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President Of Malivia on Economic Recovery

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In Closing in delivering the closing remarks on the Economic Recovery Committee to be part of the minutes of parliament and archives of Malivia that In conclusion, as President, he thank all members of the committee for their hard work in working tediously and astutely in resolving this crisis as there have been an increase in economic activity and economic growth moving from -3%-2%-4% and soon projected to 6%. He said
all this was possible because of teamwork and effort under this coalition government. I want to especially thank my finance and foreign affairs ministers for their very hard work. Thus, I hereby put this motion to a vote before this house and let it be recorded as a main historical event for Malivia
However, he also highlighted that it is now time for Malivia to assist other nations where they can to recover the crisis and has already got on board with the Minister of finance to assist Huthori in their banking crisis.
Last edited by Roosevelt on Wed May 24, 2017 3:05 am, edited 10 times in total.
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