We are working on a brand new version of the game! If you want to stay informed, read our blog and register for our mailing list.
Bill: FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks!
Details
Submitted by[?]: Centre Democrats
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: June 2720
Description[?]:
| Many Alorians, but most especially companies, fearing an economic crash and possibly a devaluation, were transforming aloriks to foreign currencies and withdrawing them from the banks in large amounts, usually transferring them to foreign accounts (capital flight). In order to stop this capital flight and major run n banks, the Government asks the National Congress to save our economy and banking system, by voting in favor of this law: 1) In order to stop this draining from destroying the banking system, we ask the banks to freeze all bank accounts, initially for 52 days. 2) Only a small amount of cash isallowed for withdrawal on a weekly basis (initially 750 alorik), and only from accounts denominated in aloriks. 3) No withdrawals are allowed from accounts denominated in foreign currencies, unless the owner agreed to convert the funds into aloriks. 4) Operations using credit cards, debit cards, cheques and other means of payment could be conducted normally |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 18:24:27, March 02, 2009 CET | From | Conservative Union | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | We support. Though we would prefer that the bank freeze to be somewhere from 38-52 days |
| Date | 18:58:12, March 02, 2009 CET | From | New Aloria Party (NAP) | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | The We are leaning to support this however, we want it to be during the range the CU has suggested. If we do vote for this we want to make sure there is an fast and easy back-up plan if this does not work. |
| Date | 21:28:49, March 02, 2009 CET | From | New Socialist Alliance | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | We should also freeze foreign currency markets |
| Date | 22:50:44, March 02, 2009 CET | From | Centre Democrats | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | All in time.. let's just start out ith ours first! |
| Date | 00:25:07, March 03, 2009 CET | From | Alorian Populist Party (DemCoa) | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | Good bill. Support. |
| Date | 00:26:13, March 03, 2009 CET | From | Alorian Populist Party (DemCoa) | To | Debating the FINANCIAL STATE OF EMERGENCY: Bill to Stop Capital Flight and Run on Banks! |
| Message | I would also reccomond backing people's bank accounts up to 10,000 ALO, the government insuring all accounts up to this amount, again to prevent bank runs. |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | |||||||
| yes |
Total Seats: 722 | |||||||
| no | Total Seats: 0 | |||||||
| abstain | Total Seats: 28 |
| Random fact: In order for a Cabinet bill to pass, more than half of the legislature must vote for it and all of the parties included in the proposed Cabinet must support it. If your nation has a Head of State who is also the Head of Government, then the party controlling this character must also vote for the bill, since the Head of Government is also a member of the Cabinet. If any of these requirements are not met, the bill will not pass. |
| Random quote: "We here thank those in Deltaria who put [Zardic spy Mona Rivet] to justice in the most humane way possible. With bullets." - Sergio Rodriguez, former Egelian journalist |