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: D.d.l. 01/4429 - Measure to face the banking institutions' crisis
Details
Submitted by[?]: Alleanza Radicale - NCD
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: September 4430
Description[?]:
| Stefano Tatti, Minister of Finance: "Mr Speaker, our law provides that the State, facing the failing of vital and key industries, acts as investor of last resort, by nationalizing that industries. Today, we are risking to see one of the largest banking group of Istalia, the Monte dei Marchesi di Siena Bank, which risks to make desappear the savings of thousands and thousands of citizens as well as the vital credit source for thousands of large as well as little business. To face the situation, generated by the circulation of Majatra bonds, promoted by the Majatran Alliance, now even more devalued, the Government must assure the survival of this banking group. An increase of the luxury goods sale tax will be applied to graant the necessary funds to the Government to face the situation. Furthermore, face the defficulties of many enterprises to face the aggregate demand slowdown, the funds will be used also to graant fiscal relief, subsides and favorable interest rates for the purchaise of production machinery and equipement by part of the business. Furthermore, to face the fall of the value of the MACU and its contamination of our Lira, for a period of 5 years the Lira will be moved to within a defined band of fluctuation for an indefinite period. Finally, the Government will create a state "bad bank" which will have as main objective the collection of the most toxic assets in circulation into the market to assist the other banking institutions in difficulties. The bank will be known as "Società di Gestione degli Attivi precedenti la Ristrutturazione Bancaria" ("Company for the Management of Assets proceeding from Restructuring of the Banking System") or SOGEATRIB. Thank you" |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 20
Current: 15
Proposed: 24
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 allowed to float, and the government does not intervene at all.
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 | 23:49:08, July 26, 2018 CET | From | Partito Nazionale Democratico | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Alessandro Bencivenni, PND Leader, This is the first step towards communism. The banks failed and we should let them fail. No buy outs no nationalization and definitely no exchange rate control. Even worse is the increase in VAT as this will surely cause a reduced consumption sending us deeper into recession. Sometimes the most correct Thing to do is to do nothing. Let it collapse and let the market regenerate. Worst case scenario we can take loans from our new "friends" of the Majatran Union, because joining that organization is what caused this mess in the first place. |
| Date | 11:48:01, July 27, 2018 CET | From | Partito Democratico Progressista - F.P | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Matteo Monteverde, PDP Leader: "With his statement Mr. Bencivenni has shown an incredible amount of recklessness, selfishness and ignorace. The PND Leader does not care about anyone but himself. He's going to be just fine, but millions of Istalians have already lost a great amount of their personal savings. In situations as these it is the government's duty to protect its citizens not let them fall into ruin and bankrupcy caused not by their decisions but external factors which they had no influence over." |
| Date | 13:49:17, July 27, 2018 CET | From | Nuova Unione | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Alessandro Armani, ULD President May I just note that I believe that the reason for this crisis isn't some foreign institution or an alliance that we are a part of; it isn't a bank or a company; it is our parliaments, or rather, our governments in the recent years, dominated by the left. The distribution of resources ended badly; this is simply a sign of panic, which may very well mean that this era will finally come to an end. Rasing the luxury tax will cause people to lose jobs, for crying out loud! And that, in exchange, will make more people reliant on social programs, which will strain the budget. Please, listen to me, I am not even judging this as the hardcore capitalist that I am, I am trying to explain to you why this will cause us to suffer in the long run; higher unemployment will not be the only damage that our economy will receive; regulating the exchange rate is nothing more than forcing the economy to hold the state by the hand, like an overprotective parent. However, we should not be an overprotective parent, instead, we should a wise parent. We have to let the economy fail for it to recover and grow to a state better than ever. That will be better for the state, believe me. |
| Date | 15:46:07, July 27, 2018 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Camilla Bontempi, Whip of AR: "Mr Speaker, the ULD's collegues, once again, talk about "loses of job" into a sector that also in the worst crisis remains tendencially always untouched. Why? Because the rich people doesn't suffer the crisis, they can continue to buy their luxury goods and, often, more the prices rises (of the luxury goods), more they became attractive for the rich consumers. What do you consider as a luxury goods Mr Armani? Since when the luxury goods are goods produced in large ammounts? The luxury goods are always merchandises produced in limited number (yatch, super cars, princely villas and appartaments, jewellery, etc...), all goods for which the economic crisis have never been problematic, because the rich, also during the worst crisis, never fall in poor conditions! These are all excuse to continue to defend the privilege of those that MUST PAY MORE IF THEY WANT LIVE IN THIS NATION WHICH RECOGNIZE AN UNIVERSAL SOCIAL COVERTURE FOR ALL CITIZENS! THEY MUST PAY, STOP! SOLIDARITY! WE NEED SOLIDARITY NOW, NOT INDIVIDUALISM WHICH CAN ONLY SEE THE RICH BECOME RICHER AND THE POOR BECOME POORER!" |
| Date | 18:31:38, July 27, 2018 CET | From | Nuova Unione | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Alessandro Armani, ULD President No, we do not need solidarity; we need the liberty of every single citizen, which in return will produce the freedom to solidarity, and create true, unforced solidarity through charities. Ms Bontempi, let me explain you this; yachts, super cars, all that is produced with people with jobs. With higher taxes, the prices will rise, which will mean that less rich people will be able to afford them; yes, to boggle your mind, let me tell you that that is possible. That means that less of those products will have to be made, due to the lower demand. That means that less of those cars will, in fact, be made. That will mean that the companies will fire workers, and those workers will lose jobs, and live off social programs, which are funded by every istalan. Simple as that. |
| Date | 00:41:42, July 28, 2018 CET | From | Partito Nazionale Democratico | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | Alessandro Bencivenni, PND Leader, I will put my head on the line and resign as leader of the PND in the next election if the voters support the parties voting in favor of such legislation. Look where solidarity has gotten us! Rigbt in the middle of an economic crisis! Moreover, Ms Bontempi seems to be confused As she and her party stated over and over again, the rich will not suffer. The poor will. Which this legislation will promote you know why? Because they are the ones producing the goods as employees and they will get redundant. Moreover, we are making already exclusive goods even more exclusive by raising their prices, increasing the rift between rich and poor even wider. The left is lost in either madness or hypocrisy. |
| Date | 10:55:30, July 28, 2018 CET | From | Nuova Unione | To | Debating the D.d.l. 01/4429 - Measure to face the banking institutions' crisis |
| Message | OOC: May I just say that it will be rather hard for 2 parties to have a majority in a parliament consisting of 8 parties lol |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 341 | ||||||
| no | Total Seats: 164 | ||||||
| abstain | Total Seats: 0 |
| Random fact: Moderation will not accept Cultural Protocol updates which introduce, on a significant scale, cultures which are likely to be insufficiently accessible to players. In particular, for all significant cultures in Particracy, it should be easy for players to access and use online resources to assist with language translation and the generation of character names. Moderation reserves the right to amend Cultural Protocols which are deemed to have introduced significant cultures that are not sufficiently accessible and which are not being actively role-played with. |
| Random quote: "A people that values its privileges above its principles soon loses both." - Dwight D. Eisenhower |