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Bill: The Currency Flotation Bill 3516
Details
Submitted by[?]: The Al'Badaran Libertarian Party
Status[?]: passed
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: May 3517
Description[?]:
| We believe our current banded fluctuation of currency is hurting our economy, and thus we suggest that it should be pegged to a market rate |
Proposals
Article 1
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is kept within a defined band of fluctuation.
Current: The exchange rate of the national currency is allowed to float, and the government does not intervene at all.
Proposed: The exchange rate of the national currency is allowed to float, and the government does not intervene at all.
Debate
These messages have been posted to debate on this bill:
| Date | 15:49:27, July 18, 2013 CET | From |  Green Republic Party (GRP) | To | Debating the The Currency Flotation Bill 3516 |
| Message | Sorry this Bil, after re-reading actually makes NO sense. It says that the country is concerned about fluctuations in the exchange rate (rightly) but you're proposing to let it fluctuate according to free market levels, which are even greater than pegging currencies to a certain level. The defined band of fluctuation mentioned in the legislation is a smaller fluctuation band than the freely floating exchange rate will be... This bill is incorrect for what it's trying to achieve. The proposed solution will make the problem, identified in the preamble, worse. |
| Date | 15:54:19, July 18, 2013 CET | From | Green Republic Party (GRP) | To | Debating the The Currency Flotation Bill 3516 |
| Message | Also, the GRP would like to point out that pegging currencies do not happen at a market rate. Pegging is to a government defined rate, usually a weak peg, to improve exports. Thus this bill is actually more damaging, as our currency in Al Badara is renowned for its strength, just like in the country called the UK. Thus the current system of intervention to let it fluctuate within a smaller range, thus keeping it weaker, is far more desirable for the country's economy, in terms of exporting. |
| Date | 17:09:59, July 18, 2013 CET | From | Justice, Development and Freedom | To | Debating the The Currency Flotation Bill 3516 |
| Message | OOC: The UK currency is of course a floating currency. |
| Date | 17:16:18, July 18, 2013 CET | From | The Al'Badaran Libertarian Party | To | Debating the The Currency Flotation Bill 3516 |
| Message | The GRP misunderstands - it is not the fluctuation which is hurting our currency, it is the small band within which it is allowed to fluctuate which is hurting us As your very sensible partners the JDF are voting for it, in line with ways to imrpove our currency, we suggest you follow suit. |
| Date | 00:12:56, July 19, 2013 CET | From | Green Republic Party (GRP) | To | Debating the The Currency Flotation Bill 3516 |
| Message | OOC - how do you know the band of fluctuation is good or bad? In your head it is bad and hurting exports and in mine it is good. Ridiculous to draw any conclusion with no statistic. Really silly with no stats to have this as part of the game really! |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 511 | ||||
| no | Total Seats: 149 | ||||
| abstain |
Total Seats: 90 |
| Random fact: Particracy does not allow official national flags of real-life nations or flags which are very prominent and recognisable (eg. the flags of the European Union, the United Nations, Nazi Germany, the Soviet Union or the Confederate States of America). |
| Random quote: "The activist is not the man who says the river is dirty. The activist is the man who cleans up the river." - Ross Perot |