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Bill: Exchange Rate Regime Act
Details
Submitted by[?]: Unión Demócrata Republicana Confederal
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 4478
Description[?]:
| The Unión Demócrata Republicana Confederal believes that a floating exchange rate regime that allows currency’s value to fluctuate according to the foreign exchange market is the best possible exchange rate regime because it automatically adjusts to economic circumstances. That regime will enable Egelion to dampen the impact of shocks and foreign business cycles and to preempt the possibility of having a balance of payments crisis. However, to avoid or, at least, control the unpredictability as the result of their dynamism, we believe that our central bank should remain committed at all times to buy and sell our currency to avoid economic crisis and protect our citizens. The central bank will maintain reserves of foreign currencies and gold to intervene in the foreign exchange market to make up excess demand or take up the excess supply of our national currency. |
Proposals
Article 1
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is allowed to float, and the government does not intervene at all.
Current: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Proposed: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 121 | ||||
| no | Total Seats: 79 | ||||
| abstain | Total Seats: 0 |
| Random fact: The voters enjoy active parties who take upon themselves the initiative to create laws. |
| Random quote: “Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right.” --H.L. Mencken |