Vanuku

[Kubrick]

JZF proposes one currency for Empire
17 September 5576, Wiel, Kingdom of Wrnuke, Empire of the Jelbic Peoples


The head office of the Jelb'koékai Zntral Frndpylz (Jelbic Central Bank) which has proposed one currency for the Empire.

As part of an on-going effort to strengthen cooperation and increase growth the Executive Committee of the Grand Council of the Empire has at a consistent rate sent proposals to leading governments of the Jelbic Empire. One of these proposals caught the eye of Minister Aldrkai Cusham of the Kingdom of Wrnuke, who is known for pushing more adventurous ideas. This proposal, drafted by several economists from across the Jelbosphere proposes a singular currency for all nations of the Empire - or at least for participating members. They argued in their study, named 'Central Currency Commitment', that one currency could vastly increase trade within the borders of the Empire, as well as encourage investments between money partners. Lastly it would assure member states to support each other during financial downfalls. With all these things on hand the Minister petitioned to the Prefect and Emperor for an additional budget and the permission to set up an overarching agency. As such the Jelbic Central Bank was founded, the Jelb'koékai Zntral Frndpylz even received a new rather magnificent office in Wiel. For now the JZF only has authority in Wrnuke but the idea is for the central bank to become an overarching bank for all members of the Empire of the Jelbic Peoples.

The JZF has taken the 'Central Currency Commitment' study and drafted a more in-depth proposal for the member states to look over. The currency is currently poised to be called the Togr, after an old Jelbic word for 'circle' and 'coin'. The old Jelbic Khanates occasionally minted round coins which they called togr. For now only the government of Wrnuke has committed to the proposal, but further discussions in the Great Council should potentially see other nations join. As of right now the Prefect of Wrnuke, Grzkai Krlmékez, is still the acting Prime Minister of Beiteynu which could sway them towards a certain direction. The weaker economies of the Empire, namely Jelbe and Barmenistan, are on the fence so far as committing would mean a greater dependance on the more powerful economies in the Empire. Then again, not doing so would also wield a significant risk as they would lag behind on the benefits being given to other members. For now the topic is hotly debated and the JZF continues to tinker on its proposal. Chairwoman Lén Strhosíék of the JZF has already pledged to visit every member state and discuss any concerns before an addendum to the founding treaty of the Empire is brought to the floor of the Great Council.

Krsyiji Sagmot'l (United Media) is the national news agency of Wrnuke, it is decidedly pro-government but can at times be critical of it.