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Bill: Financial Sector Reform
Details
Submitted by[?]: Social Liberal Party
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 2496
Description[?]:
| This bill aims to privatise the government owned banking sector and open the country up to foreign investment. |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates and owns all banks.
Current: The government operates a central bank and all other banks are private.
Proposed: All banks are privately owned.
Debate
These messages have been posted to debate on this bill:
| Date | 03:51:19, December 04, 2007 CET | From | Holy Islamic Union | To | Debating the Financial Sector Reform |
| Message | ALL banks cannot be privately owned! I might support allowing some private banks. |
| Date | 21:52:32, December 04, 2007 CET | From | Social Liberal Party | To | Debating the Financial Sector Reform |
| Message | We need to open this country up to foreign investment if we are to have a strong economy. We cannot remain somewhere in the middle. Either we privatise everything or we nationalisae everything. Privatisation is essential if we are to link with the world's major industrialised nations. |
| Date | 22:13:36, December 04, 2007 CET | From | Holy Islamic Union | To | Debating the Financial Sector Reform |
| Message | Foreign investment can destroy a country into a dependent commonwealth! However, you are right that it is needed to expand the economy in the international zone. Nationalized banks are essential to keeping the economy under control. I would support allowing some private banks for the sake of competition and allowing a small amount of foreign investment. Some private banks are also required to keep Nationalized banks profitable and to avoid bureaucracy. Allowing banks into the private sector would expand the NATIONAL economy with their expanded reach into our own communities, and having government owned banks could keep foreign investment in check. Management would then be focused on each bank without lumping them together. This is to say banks could be independent and innovative while making a profit for the government. The government can own some banks without complete nationalization. |
| Date | 22:41:24, December 04, 2007 CET | From | Social Liberal Party | To | Debating the Financial Sector Reform |
| Message | No, there has to be real competition or not at all if this is to work. |
| Date | 00:38:35, December 05, 2007 CET | From | Kébé Front | To | Debating the Financial Sector Reform |
| Message | -scoffs- As if. |
| Date | 04:40:58, December 05, 2007 CET | From | Al'Badara Republican Party | To | Debating the Financial Sector Reform |
| Message | We, in the AAP, do support private enterprise (including banks) but making them all private is too far. We do believe in a centralised government bank though. |
| Date | 12:39:49, December 05, 2007 CET | From | Freedom Party | To | Debating the Financial Sector Reform |
| Message | agree with AAP we do need a central bank to act as a lender of last resort. |
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Voting
| Vote | Seats | |||||
| yes | Total Seats: 0 | |||||
| no |
Total Seats: 486 | |||||
| abstain | Total Seats: 263 |
| Random fact: RP laws follow the same passing rules as in-game variable laws. Laws that are not of a constitutional nature require a simple majority "Yes" vote from active parties currently holding seats. Laws that are of a constitutional nature require a 2/3 majority "Yes" vote from active parties currently holding seats. RP laws may be abolished a simple majority vote this applies to ANY RP law. |
| Random quote: "The key to understanding the American system is to imagine that you have the power to make nearly any law you want, but your worst enemy will be the one to enforce it." - Rick Cook |