Firstly, clearing unions are not radical concepts, and in all likelihood would only involve payments in central-bank issued currency due to the impossibility of doing otherwise. As you will note, I have proposed revisions to this proposal, which I have actually read out to you, which remove the original restrictions placed on non-Euro international trade. Regardless, as the sole point of the clearing union with the revisions is to track deficits and surpluses, it is not entirely necessary, as those can be estimated by other authorities. It will therefore be dropped completely from the proposal, without replacement.
I must reiterate that unless if Councillors believe that the purchase of bonds or employment programs, both of which have their basis in very liberal economics, are communist in nature, this proposal is not at all communist.
Given the objection to the tax, I will drop it, and propose the following in its place:
"The European Central Bank will issue a 'carbon unit' to companies and organizations which work to mitigate climate change, at a rate of 1 unit per 1000 kg of CO2e (estimated) mitigated over a period of 100 years. Carbon units will be traded on in an open market. Individual central banks will expand their bank reserves at rates agreed upon mutually between them and the European Central Bank, to limit inflation and to ensure that it is equal across all nations, in order to purchase carbon units so as to regulate the market price of the carbon unit and therefore to change the demand for it. This will create a market incentive to turn towards more green technology.
Ilmaras Kalessed
Internal Affairs Commissioner
Councillor Greene, yes, I was not impartial. But here non-intervention risked the debate being repeatedly interrupted by someone demanding an apology, a situation in which I would not be able to do anything about. In the future, however, I will consider impartiality as being far more important and use alternative methods to control such possibilities.
Iras Tilkanas
Council Speaker and Councillor for the Republic of Istkalen