Ma-tek
16-12-2003, 23:14
"Quite astonishingly, the Imperial Economic Court issued Tuesday a package of Emergency Economic Rulings to enable the EOTED economy to absorb the majority of the loss generated by the de facto withdrawal of Menelmacar from the EOTED-Menelmacari Trade Alliance.
"The ability provided by the IEC to rapidly react to the changing global market has long been touted by EOTED economic analysts as the basis for the long-standing stability of the EOTED internal market, and todays events may well prove that assesment to be completely accurate.
"Projected economic growth figures have fallen by 2% for the year, but the ITC is in buoyant mood despite this dire prediction by The Imperial Economic News. An ITC spokesperson today said of the loss, 'Despite the projected loss, the ITC remains in good cheer with regards to annual growth and profit figures. There is no need for concern.'
"The package announced includes the liquidation of some 1% of ITC assets - amounting to Rlh1.5T (US$3.6T). The funds gained via this liquidation, according to the Ruling by the IEC, are required to be invested in the Relhame directly, in order to 'prop the Relhame up'. The IEC announced that, as part of this specific Ruling (referred to as the Currency Protection Ruling DY1), the Relhame is to be cut loose from the Menelmacari Credit.
"The entirety of the 1% of assets to be liquidated by the ITC rests in the services industry of the EOTED market - entirely within the domain of that market referred to as the luxury service intra-services industry area. The ITC is expected to announce further liquidations throughout the month to cover the loss in the services industry.
"The IEC also ruled Tuesday that the Government is to divert some ninety percent (Rlh4.125T - US$9.9T) of the remainder of the IDF Slush Fund to the Budget. Some twenty percent (Rlh825mio - US$1.98T) of the funds diverted are to be spent specifically on foreign aid, with the expected aim to be to cement and develop trade relationships amongst key markets across the solar system. Thirty percent (Rlh1.2375T - US$2.97T) is to be diverted to investment measures, the specifics of which are to be decided by Imperial House in an emergency session Wednesday. Ten percent (Rlh412.5mio - US$989.9mio) is to be diverted to social security. The remaining thirty percent (Rlh1.237T - US$2.97T) will be diverted to the Imperial Reserve.
"Reactions in the Empire are expected to vary. The news of the liquidation of 1% of ITC assets (all of which, of course, are in the services industry) is expected to be met with disgruntlement, as this will clearly result in a loss of jobs - and the first rise in the unemployment rate since the inception of the Empire almost a year ago..."
~ INN Solar, special broadcast
"The ability provided by the IEC to rapidly react to the changing global market has long been touted by EOTED economic analysts as the basis for the long-standing stability of the EOTED internal market, and todays events may well prove that assesment to be completely accurate.
"Projected economic growth figures have fallen by 2% for the year, but the ITC is in buoyant mood despite this dire prediction by The Imperial Economic News. An ITC spokesperson today said of the loss, 'Despite the projected loss, the ITC remains in good cheer with regards to annual growth and profit figures. There is no need for concern.'
"The package announced includes the liquidation of some 1% of ITC assets - amounting to Rlh1.5T (US$3.6T). The funds gained via this liquidation, according to the Ruling by the IEC, are required to be invested in the Relhame directly, in order to 'prop the Relhame up'. The IEC announced that, as part of this specific Ruling (referred to as the Currency Protection Ruling DY1), the Relhame is to be cut loose from the Menelmacari Credit.
"The entirety of the 1% of assets to be liquidated by the ITC rests in the services industry of the EOTED market - entirely within the domain of that market referred to as the luxury service intra-services industry area. The ITC is expected to announce further liquidations throughout the month to cover the loss in the services industry.
"The IEC also ruled Tuesday that the Government is to divert some ninety percent (Rlh4.125T - US$9.9T) of the remainder of the IDF Slush Fund to the Budget. Some twenty percent (Rlh825mio - US$1.98T) of the funds diverted are to be spent specifically on foreign aid, with the expected aim to be to cement and develop trade relationships amongst key markets across the solar system. Thirty percent (Rlh1.2375T - US$2.97T) is to be diverted to investment measures, the specifics of which are to be decided by Imperial House in an emergency session Wednesday. Ten percent (Rlh412.5mio - US$989.9mio) is to be diverted to social security. The remaining thirty percent (Rlh1.237T - US$2.97T) will be diverted to the Imperial Reserve.
"Reactions in the Empire are expected to vary. The news of the liquidation of 1% of ITC assets (all of which, of course, are in the services industry) is expected to be met with disgruntlement, as this will clearly result in a loss of jobs - and the first rise in the unemployment rate since the inception of the Empire almost a year ago..."
~ INN Solar, special broadcast