Capitollium Journal and Review of Books

[Rheinbund]

Aussenministerium
Trier, Eiffelland

We congratulate the Oelarians with their first Constitution. The document is the result of careful considerations of all the Oelarians' interests and will be the basis for Oelar's welfare in the near future.

Rudolph Kögler, Minister for Foreign Affairs and Vice-Chancellor

 

[Gunnland]

Capitollium Journal and Review of Books
Capitollium University . Muspellsheimr, Y.G. . Tagzig Olmolungring . April 10th
____________________________________________
The Independent Newspaper of Record​

Issverth Hundred Debates Militarization
Prelude to a National Conversation?
Coemgein B. Hart

For justice under God, until the Geirtrae withers and the Gjisjang crumble.

CITADEL OF ISSVERTH, O.L.R. - The Issverth Hundred met yesterday to discuss the new national military organization under the Skycommand. The meeting of the Hundred in this smallest city-state was especially significant because the body elected Havi B. Eir to the National Council. Eir was subsequently appointed Defense Minister. So far, the Defense Ministry has been involved in an ambitious effort to gather the various militias and armed groups (the Einherjar, clan militias, the ISRA Spartacist Command, etc.) under a single command structure that reports to the Skycommand.

Eir was called to Issverth to explain the organizational plans behind the new national military, the Einherjar-Mountain Home Defense Corps.

PROP. 1: Continue national military force (Skycommand Einherjar) project.
PROP. 2: Oppose national military force for traditional "militia system".
PROP. 3: Replace national military force with universal citizen armament.

Many voices within the Hundred were critical of the national military project, pointing to recent street pictures of Knytlingsfort as an example of "martial law". Although the opposition was a clear majority, they were divided between supporters of the status quo ante and a faction who supported President Alasdair J. Symeon's proposal for municipal programs to arm citizens.

The most influential voices in Issverth, veteran national politician Niels N. Roerich and leading citizen Dr. Pall Y. Gunn, offered tempered support of the national military force. Roerich said, "It is clear that our old security system was one of feudal inefficiency, and dangerously destabilized the country by supporting rival factions." And Dr. Gunn warned against universal armament, "The people are already armed. The problem is they do not think of themselves as an 'armed citizenry', but as clan fighters, ideological paramilitaries, or members of this or that military statocracy."

While Issverth was the first Hundred to raise the issue, the legislators could not find a majority to oppose the Defense Ministry plan because, as Foreign Minister Roerich said, "The alternatives are unacceptable." Rumors of the issue being raised in Yungdrung Gutsak, where support for universal citizen armament is high, and Knytlingsfort, which is most directly affected by the new national military which effectively polices the city, are circulating.

Skycommander Alasdair R. Viereskog, the national councilor and deputy defense minister, released a statement from Dovre expressing his support for the national military force project: "The fortresses of Dovre and Folkvangr have guarded our mountain homeland since time immemorial. It is wise to unite them with the three citadels."
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[Gunnland]

Capitollium Journal and Review of Books
Capitollium University . Muspellsheimr, Y.G. . Tagzig Olmolungring . June 3rd
____________________________________________
The Independent Newspaper of Record​

Bank Debate Scheduled in Knytlingsfort
FTI National Bank Plan, Currency Plans Under Scrutiny
Gregor S. Stoker

For justice under God, until the Geirtrae withers and the Gjisjang crumble.

REPUBLIC OF KNYTLINGSFORT, O.L.R. - The Hundred will meet next Monday to discuss the Finance Trade & Industry Ministry plans for a national bank and a new national currency. FTI Minister Filip J. Gutkind has called such measures necessary for Olmolungring to weather the current Bantyr-default crisis that has sent northern markets into a tailspin. The Franconian thaler (T) is the most widely-accepted currency used in Olmolungring, although the Northern Council basket currency is also in circulation in the northern port city of Issverth.

"Because our national economy is heavily invested in Franken, we will feel the ripple effects. It is time we had a national bank and a currency of our own to set interest rates and manage these crises." - FTI Minister F. J. Gutkind

Gutkind's plan is to nationalize OelarBank, and will face difficulty, an anonymous high-ranking source within the FTI says, because most of OelarBank's assets are kept in the port city of Erlangen in Franken.

Stadhaldr J. Stubbe, the granddaughter of the at-large renegade Sigvarthur "Dead-Eye" Eir, has emerged as a leading opponent of the Gutkind Plan. Ms. Stubbe is the cousin of two National Councilors, Defense Minister Havi B. Eir and Deputy FTI Minister Matteus E. Eir, although it is unclear if she will be able to convince them to abandon the Ministry's plans.

"The thaler is one of the most stable currencies in Europe, which is good for tourism and the financial sector. This country will not develop export-oriented heavy industry, so currency devaluation is out of the question. A pipe dream of starry-eyed left-wingers." - S. J. Stubbe

Because it is a high-profile debate, and Stubbe has shown an eagerness to try and unseat a member of the Hundred by gaining endorsements with her leadership on this issue, the national councilors from Knytlingsfort are expected to return to the city for Monday's arguments.

Deputy Prime Minister Svava P. Gunn is a known supporter of the Gutkind Plan, as is Education Culture & Sports Minister Stephan J. Hvit. But it is unknown whether two influential voices in the Knytlingsfort Hundred, Prime Minister Robert P. Viereskog and Skycommander and Deputy Defense Minister Alasdair R. Viereskog, support the plan.
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[Gunnland]

Capitollium Journal and Review of Books
Capitollium University . Muspellsheimr, Y.G. . Tagzig Olmolungring . June 9th
____________________________________________
The Independent Newspaper of Record​

Bank Restructuring Negotiations Underway
FTI Considers Transitional Arrangement; Graf Montgelas Invited
Gregor S. Stoker

For justice under God, until the Geirtrae withers and the Gjisjang crumble.

REPUBLIC OF KNYTLINGSFORT, O.L.R. - The Oelarian banking industry, once an unlikely jewel of the national economy that flourished in the 1970s as a tax shelter for offshoring firms in Franken, has been in a tailspin for the past year. The ancient traditions of banking secrecy in Knýtlingsfort and Erlangen, once the northernmost cities of the Holy Germanian Empire, have been kept alive by modern banking concerns. While bilateral agreements managed to close many banking loopholes in the 1980s, they only came after a major shift in capital services to Knýtlingsfort. Recent unrest, however, has lead to the near-collapse of the industry.

In the past two weeks the Ministry of Finance, Trade, & Industry has unrolled plans to nationalize OelarBank. Controlled by the Alvitr clan since its consolidation in 1937, the bank is the largest by assets in Olmolungring and was once a major player in international finance. Under the current modified FTI Plan, the bank will be rechartered as the Bank of Oelar. Four stockholders' representatives and three appointees of the Lord Rigpa will make up a seven-member Board of Governors, although only lordly appointees will be eligible to be Governor of the Bank. The current managing director, Miss Stadhaldr J. Stubbe, is considered a top choice for governor.

The FTI Ministry is calling this a transitional hybrid arrangement that, as the government raises capital to buy out private shareholders, will coalesce into a publicly-controlled central bank. Since the Gutkind Plan for a national bank failed to gain majority support in the Knýtlingsfort Hundred, the more modest transitional arrangement has emerged.

"The Bank will get the first major policy objective of Finance, Trade, & Industry underway and allow our office to get to work on currency independence and targeted industrial development," Minister Gutkind told the Journal. In past statements, Gutkind has variously proposed an Oelarian currency pegged to silver or a weighted basket of international currencies.

FTI Deputy Minister Matteus Eir has invited Schatzkanzler Graf Montgelas to Knýtlingsfort to discuss how foreign-owned assets will be represented under the Bank of Oelar plan and balanced with the central bank authority. Another important item on the agenda is "Thalerization". Eir is known to support an official agreement with Franken to use the thaler, and gradually proceed to currency independence by instructing the Bank of Oelar to issue coinage backed by FTI gold stockpiles, starting with small denominations first.
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[Großlausitz]

Das Schatzamt - Treasury Office

Schatzkanzler Graf Maximilian von Montgelas will accept the invitation and gladly travel to Knýtlingsfort to discuss the further plans with the Deputy Minister.