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Topic Started: Apr 25 2014, 05:56 PM (1,788 Views)
Folms
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Folms
The Commonwealth of Crowns Economic Area

The purpose of this Treaty is to establish a financial union between nations who desire closer economic ties with foreign economies.

1) The Commonwealth of Crowns Economic Area (Henceforth the CCEA)
a. The CCEA shall be a financial union between nations who wish to actively trade with other members.
b. All nations who voluntarily join the CCEA shall enter into a trade partnership with other members.
c. All members’ currencies shall be recognized by the CCEA.
d. A monthly report shall be published by the CCEA detailing the economic performance of all member states and the union as a whole.

2) Members
a. Members of the CCEA shall be nations desiring to actively trade with other CoC economies.
b. Members of the CCEA shall be represented by the member state’s Finance Minister or equivalent.
c. The CCEA shall recognize all official languages of its members but the CCEA’s main communication shall take place in English and French.
d. The CCEA shall not be a political union and therefore members are not required to meet any particular political criteria to join the CCEA.

3) The CCEA Presidency
a. The presidency of the CCEA shall revolve on a monthly basis with elections taking place over the last three days of the month.
b. The member state holding the CCEA presidency shall host a monthly a economic summit in their nation on the third week of their presidency spanning over three days.
c. The sitting president of the CCEA shall set the agenda for the CCEA for their term.
d. The president of the CCEA must be a member of the CCEA and the Commonwealth of Crowns.
e. Any member with membership of the CCEA of more than one month may put forward their candidacy for the presidency.
f. The president of the CCEA shall be elected by all members by simple majority vote.
g. The president shall be either the Finance Minister or CoC Representative of the nation holding the presidency.

4) The CCEA Central Reserve
a. The CCEA Central Reserve shall be a vault holding voluntary deposits from member states.
b. Nations who deposit assets to the CCEA Central Reserve shall earn interest off of their deposit. The rate of this interest is set by the President of the CCEA and requires a majority vote of all members in order to change the rate.
c. Nations in financial difficulty may apply for a bailout from the CCEA Central Reserve. When member states apply for a bailout the provisions such as: the rate at which the loan will be repaid, the interest rate for the loan, whether the nation should even receive the bailout etc. shall be voted on by member nations.

5) Other Provisions
a. The CCEA shall be independent from the central government and financial administration of the Commonwealth of Crowns.
b. Currency values of CCEA members’ currencies shall be generated on a weekly basis.
c. This charter may be amended and added to by members provided that a majority vote is taken on every change or addition proposed.
d. For the month after the passage of this treaty the CCEA Presidency shall be held by the Kingdom of Torvalyn in order to secure stability.
e. the provisions of this charter shall be applied immediately to member states as soon as soon as their deposit is made.
f. the US Dollar ($) shall be used as a transitional currency in the union for the sake of simplicity.
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Applicant nations are to fill out the following form in order to submit their application:

Full Name of Nation:
Head of State:
Head of Government (if different):
Minister of Finance (or equivalent):
Name of CoC Representative:
National currency:
Value of 1 unit of your national currency to USD ($):
Name of Central Bank (note: if the name of your central bank does not include the name of your country please add this in brackets next to it):
Current rate of interest set by central bank:
GDP (nominal):
Current top five largest companies in your nation:
Minimum deposit of 2% of GDP (nominal) [please state figure]*:


*Before joining nations are required to deposit a minimum of the equivalent of 2% of their Gross Domestic Product to the Central Reserve of the CCEA upon entry to the union. This finance shall be held in case of the need for financial bailouts or investments in other regional markets.

Authored by [nation]Torvalyn[/nation]

____________________________________
Real time information

Members (in order of application)

1.Torvalyn
2.Swandland
3.Neigeland
4.Herzangia
5.The Two Exalted Kingdoms
6.Merovingea
7.Alafar
8.Arkorrnia
9.Rarungan
10. Ethopolis (deposit still in transit)

Current holdings in the CCEACR (Ceacra):
$1,301,081,995,486
Edited by Folms, Apr 25 2014, 06:05 PM.
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Folms
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Folms
Dear members, we've relocated to this new section of the forum which has been created for us by the Chancellor. Here we will begin discussions on a number of things yet to be sorted out. (I have posted the initial Treaty, application form and current data as the first post here, I'm sure we can sort out where all this will go later).

The following things need to be sorted out:

1) The layout of the forum and which threads should be created.
2) The CCEA Parliament for which I have drafted a proposal and am waiting to put it up somewhere (perhaps we could debate in the CCEA Parliament section?)
3) The location of key bodies and institutions of the CCEA (The CCEACR, the CCEA Parliament etc)
4) The CCEA Stock Exchange.

I suppose it would make sense to discuss these issues in the order presented above as to bring some order to the process.
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The Folkelands
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Can anyone inform me of everything that happened while I was away? Thank you!
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Ethopolis
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The Absolute Monarchy of Ethopolis

I think that under general discussion, we should have the key bodies posted. Under the parliament, just post a new topic whenever something arises.
XVII REC Speaker, XIV & XVI REC Minister of Culture, XV REC Ex-Minister of Finance, Author of the Commonwealth Cartography Act and Introduction of the Editorial Committee
Member of the Treaty of Kesya, Crownish since December 17, 2013, Founded on April 4, 2013
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The Exalted Kingdoms
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Arkorrnia
Apr 25 2014, 08:21 PM
Can anyone inform me of everything that happened while I was away? Thank you!
Well much of what we were supposed to do got delayed due to the forum crisis but we agreed that the parliament will be in Torvalyn, the Central Bank in TEK and the Stock Exchange in Neigeland. Further to support the economically weaker countries and to stir employment in them, subsidiaries of the banks will be established in them. More organisations will be created in the future so that the "richer" countries do not monopolise the CCEA ( This is very important so that this stays alive, The CCEA needs to be for everyone cause after all not everyone chooses to roleplay a rich nation ). Regarding Free Trade zones, it is my impression that Torv has a draft for a CCEA wide one which would be voted on the newly established Parliament.

I think we should have a small roleplay regarding the signing and ratifying the treaty :P
Edited by The Exalted Kingdoms, Apr 26 2014, 04:26 AM.
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Folms
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Folms
I agree, a RP of the signing :D now that we can have multiple threads!

And I agree Ethopolis, but would we allocate one thread to each body? So a CEACR thread, applications thread etc?

And yeah, I see the CCEA Parliament working like the House of Nobles.
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Rarungan
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I guess it is better to allocate each body into each own thread. So, there will be CCEA Parliament, The CCEA Central Bank and The International Stock Exchange and others body that will come in the future. While the general discussion could be the OOC section to all.
Maharaja Nathakusuma II of Natharaja | Honorary PM I Gusti Ngurah Agung Kelakan
Honorary I Gusti Made Anantara Karyasa
Delegate to The Commonwealth of Crowns

Lord Speaker of 15th REC | The Eminent Chief Justice during 16th REC
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The Exalted Kingdoms
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I'll try and prepare how the Central Bank looks and how the security would be arranged, vaults and stuff :P Wouldn't it make an interesting role play scenario if the money gets stolen xD
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Merovingea
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Gents, it's excellent to watch the enthusiasm and activity of all of you. I'd just like to let you know that I'm gonna be quite busy till 30th April, so while I will check the forum and NS daily (to take care of any emergencies that could occur), I won't contribute to the discussion for the time being;)
Edited by Merovingea, Apr 26 2014, 01:24 PM.
"I will not wear a crown of gold where my Savior wore one of thorns."
Godefroy de Bouillon refusing to be crowned the King of Jerusalem
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Folms
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Folms
Okay Merry, thanks again!

I shall post the CCEA Parliament charter in the CCEA Parliament thread for now so you can get a feel for what it's for I suppose. Feel free to add comments and possible amendmends before we finalize the matter!
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