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Bill: KFS Crisis Bill - Banking Nationalization and Currency Protection Emergency Act
Details
Submitted by[?]: Social Labor Coalition
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: March 3872
Description[?]:
| This bill is an emergency bill to respond to possible repercussions of the KFS exit crisis, should such a disaster take place: http://forum.particracy.net/viewtopic.php?f=17&t=57&start=670#p87292 The following bill proposals - to regulate banks and financial organizations such as the KFS and to stabilize the LOD - will take place immediately after a majority vote, but may be repealed after the crisis is deemed moot by the government. IC: The government's owning of banks is a formal action by the Presidium to nationalize the KFS's assets. The stabilization of the LOD within a currency band will prevent a bond dump from devaluing the dollar to disastrous proportions. As such, the bill's passing by the Presidium will effect current government policy into law. This bill, more financial in nature, is to be passed in conjunction with the KFS Assets Act, which covers the legal/judicial aspects of resolving the crisis: http://classic.particracy.net/viewbill.php?billid=441164 |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates and owns all banks.
Article 2
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Current: The exchange rate of the national currency is kept within a defined band of fluctuation.
Proposed: The exchange rate of the national currency is kept within a defined band of fluctuation.
Debate
These messages have been posted to debate on this bill:
| Date | 06:12:47, July 05, 2015 CET | From | Social Labor Coalition | To | Debating the KFS Crisis Bill - Banking Nationalization and Currency Protection Emergency Act |
| Message | OOC: What's meant by "banks" in the first article also covers large financial institutions such as the KFS |
| Date | 06:21:31, July 05, 2015 CET | From | United Republics Party | To | Debating the KFS Crisis Bill - Banking Nationalization and Currency Protection Emergency Act |
| Message | M. Speaker, I believe the KFS crisis is an isolated incident which is being dealt with outside this legislation. Noctos Moctos URP Leader |
| Date | 09:14:02, July 05, 2015 CET | From | Liberal Progressive Alliance | To | Debating the KFS Crisis Bill - Banking Nationalization and Currency Protection Emergency Act |
| Message | M. Speaker, The ECA will oppose this purely because I believe the URP's bill already has that effect; http://classic.particracy.net/viewbill.php?billid=441164 Carl Lexington Minister of Finance |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 176 | ||||
| no |
Total Seats: 312 | ||||
| abstain |
Total Seats: 111 |
| Random fact: Before choosing a nation, you may wish to research it first. For more information on the cultural backgrounds of the nations, please see the Cultural Protocols Index: http://forum.particracy.net/viewtopic.php?f=11&t=6365 |
| Random quote: "Too bad all the people who know how to run the country are busy driving taxi cabs and cutting hair." - George Burns |