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The CCEA Charter
Topic Started: Apr 29 2014, 12:22 PM (117 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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