Xsampa

[Elena1012]

Bank Reforms enacting; Mixing Social Enterprises with Market Socialism.
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February 26th, 5680
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One of the major promises made by Sherab Aurousseau was bank reform. While some abroad may have hoped this was a euphemism for privatization and economic liberalization, they will find themselves disappointed. For foreign comrades however, who wish to operate under Social Enterprises and participate in the Xsampan Economy under socialism, they will find themselves with a better outlook. Just a few days ago, PAX passed the "Banking Reform, Enterprise and Finance Reform Act" (BREFRA). First things first, BREFRA solidifies the recently enacted deal with Egelion, in which Egelian banks will now be allowed to operate in Xsampa (albeit under our regulations and laws and will conduct itself as a Social Enterprise) and have particularly influence in regulating money from Majatra. Furthermore, BREFRA also gives more autonomy to worker cooperatives who wish to form their own local banks instead of relying on the Xsampan Central Bank.

Furthermore, the passage of BREFRA looks to bring democracy to the finance sector, both for foreign and domestic actors. Financial transparency, public oversight boards, and the like. While it is important to give more freedom and autonomy to the "private" of Xsampa (both foreign Social Enterprises and domestic worker cooperatives), it is also important to make sure that socialism is upheld, preserved and that at the end of the day, the Proletariat benefit first and foremost. 

Alongside this, BREFRA will provide finalized guidelines for Foreign Social Enterprises looking to join Egelion in operating in Xsampa. Obviously, all Social Enterprises must invest into the public, adhere to Xsampan Labour laws, and be worker owned. But beyond that, there was very little. Now? Now however, new regulations and the like are in place. The People's Committee of Economic Management will receive a new Sub-Committee, dedicated to working with foreign Social Enterprises to integrate them into socialism. 

BREFRA will also formally recognize dual currency trade accounts, however at a slight caveat. Only the currencies of states that are considered allies to Xsampa are recognized for dual currency trade accounts. And even then, all foreign currency transactions will go through the Xsampan Central Bank and adhere to the conversion rates set by the state. Furthermore, BREFRA includes the provision of the 65% Profit Repatriation Clause, which ensures that 65% of all profits made by Social Enterprises must be invested into the public, or the community before being allowed to leave Xsampa. 

BREFRA is the first of many reforms that the S. Aurousseau Administration is looking to enact. Judging by how quickly this was passed, this administration certainly has a big to do list.
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In Other News;

PAX Special Committee held on Canton 14 as demilitarization efforts begin; How will the Canton be handled until the referendum?

Market Socialism or Phony Socialism; Trust the Aurousseau Administration, says government officials.

People's Committee of Foreign Affairs looks to Nadiya for new trade opportunities; Envoys to be sent in the coming months.
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Today's Quote of The Day; "A good government is always busy. It's never lazy."
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Glory to the Xsampan Revolution! Glory to the Xsampan Proletariat!

The People's Committee for Information is a worker owned, news source in Xsampa, dedicated to spreading the words of the revolution. Ensuring that Xsampans hear news, both foreign and domestic from a strongly socialist lens, the PCI ensures a strong, stable, socialist society for Xsampa.

གྲལ་རིམ་ལ་གཟི་བརྗིད་ཤོག

Gloire à la Révolution ! Gloire au prolétariat !