14 Sept 2020, 08:04

I formally request an extension of debate, as I still have a lot to say and was unable to be present in the chamber before.

I'm disappointed at the continued willingness of other member states to literally just give away money without even doing any kind of due dilligence. 0% interest on 400 million without even a question? You're willing to eat a massive loss if they don't pay it back? You hope the money will be used for its expressed purpose?

Proportionally speaking, somewhere between 20% and 25% of that money is provided by my country and no, we aren't willing to just throw it out there without due dilligence.

Interest rates are typically determined by creditworthiness. 0% interest indicates you think Leagio is in an elite position to pay it back. Where is the evidence of its financial position, though? Without credit ratings currently being assigned, I actually don't know what Leagio's national creditworthiness is. That's certainly not a situation that calls for 0% interest. That said, I also don't want to make any money off this, so:

I propose an amendment to Article III:

III. 3% annual interest will be applied on this loan, renegotiable annually. If the loan is paid in full on time, all collected interest will be refunded, adjusted for inflation.

Furthermore, we are totally unwilling to accept any outcome that does not result in the money being paid back in full. There is no concept of "loan forgiveness" in my culture...when you take out a loan, you pay it back...if you don't...bad things happen...

So, I propose another amendment striking out section VI:

VI. In case Leagio falls into bankruptcy, the European Union will remove the quantity left to pay by Leagio from a rescue fund for the nation.

Not specifying what happens in the case of default allows the European Union to negotiate with a free hand and all options on the table.

Finally, I have a question for President Lifejumper - You recently went on record for the LBC stating willingness to engage in military operations in Eastern Haane. My question therefore is, if you can afford military intervention abroad, how can you not afford domestic energy infrastructure? To me, it doesn't sound like you really need this loan and are just engaging in what we call "selective poverty" - potentially choosing to spend money on foreign wars instead of on the needs of your own people. You may need to refrain from all foreign military intervention if you want me to take your request seriously. Please justify how you can afford war, but not energy.

Wesley Greene
Councillor of the Duxburian Union