Alterran Economic Policy
The Path to Strength, Sustainability, and Prosperity
Noble, Sylar : Alterra - The Alterran Economic Capital
After the latest crash in the Alterran Economy in 2078, the Archonic Council and The Executive Cabinet sat down and developed a plan that would prop the Alterran Economy up regardless of the economic climate surrounding it. In essence, the Federation learned how to insulate itself from feeling the effects of the economic crashes of other societies. After the plan was developed, it was signed off by the voters of the Federation.
In 2087, under the leadership of King Ryan of Wolf (later Chancellor), the new economic policy was implemented. To remain a part of the Federation's extensive economic power, each planetary system was ordered to reign in spending and to become completely self sustainable. In order to continue trade bonds, the materials were traded out to nations who needed resources, while the Federation would import the same items for less due to its massive buying power. That way, in the event that the economy would begin to crash, the Federation's citizens would still be employed. The system was passed by the Federal Senate and called the Alterran Balance of Trade Act in 2086 ASC.
While the profit margins would thin out in Alterran companies, there would still be jobs and profits to be made. Another part of the agreement is that no territory within the Alterran Monetary Union is allowed to budget a deficit. In the event that additional funds are needed, it must be requisitioned from the Alterran Federal Senate and approved by the Executive Cabinet. This has only happened twice in the history of the Federation's system. The stability of trade within the AMU has helped to stabilize the universal economy and has been praised for it's efforts.
The Alterran Department of Economic Development was later founded in 2093 to help and create a greater trade contribution, gaining universal stature as one of the first nations to gain a negative trade deficit.
The Universal Stock Exchange
The Official Stock Market of The Alterran Monetary Union
In 2057, Ravenkore and The Alterran Federation formed the Universal Bank as a way for Bounty Hunters of all nations to get paid in a way that was considered fair. The Universal Bank created the Universal Credit, which made a standard unit of value that was created to make a common trade currency. The Universal Credit is pegged with the Alterran Monetary Union's Alterro currency. The creation of the Universal Bank and Credit system led to the desire to begin investing in allied nation's markets and companies. In 2075, The Bounty Hunter's Union requested the ability to trade on the Alterran Stock Market, which had combined with the Andalusian Islands and Dagon Centra's stock exchanges. After much thought and consideration, the Alterran Federation, again with Ravenkore, announced the creation of the Universal Stock Exchange, or the UnEx.
The UnEx began trading on November 17, 2075 in the Alterran city of Atlantis, Denland on planet Earth. The nations with companies on the market the first day were The Alterran Federation, Ravenkore, The Andalusian Islands (Cyrodian Republic), The Arcan (Otimoist) Federation, The Kingdom of Genovia, and the Iconian Empire. Since then, it has extended to many other nations who had affiliations with the Bounty Hunter's Union. Quickly following the phenominal success on the first day, Ravenkore, the Andalusian Islands, and Lafayette all opened Universal Stock Exchange Offices as well.
The year 2084 led to the Alterran Stock Market's final crash. At that time, Prime Minister Andrew Tauron negotiated a deal for the UnEx to take over the Alterran markets and that day became the first nation to officially adopt the UnEx as the national exchange. After the creation of the Alterran Monetary Union, the nations of Telmarin and Dionysis also adopted the UnEx, and the Cyrodian Republic began operating more on it as well.
Today, the predominant trade currency for the UnEx is: The Alterro
*The Universal Bank's Universal Credit is also used, being that it is also an official Alterran Federation, Iconian, and Ravenkorian currency*