Weekly Bulletin
Tuesday 1 March 2022
TRONDHEIM

Above: Erna speaking at a session of the Staatsrat on Monday.
Labour Reform in the Spotlight
TRONDHEIM— The Solberg Administration and CUBI agreed on a compromise today that settles the labour reform debate (for now). Both have agreed to allow the independent National Labour Commission to conduct a series of major studies over the coming months into the merits of various programs. The NLC, one of the Fremetian government's anonymous think-tanks, developed major portions of the existing program in the 1990s and early 2000s to great success.
Nikki Oleman reiterated in the Staatsrat on Friday: "We must collect more data. We must consider the broader consequences of these programmes and implement them to the best of our ability, unadulterated. Evidence-based policy making has always been the Fremetian way and we must ensure that it always remains as such. Charging forward with untested, unproven social programmes is reckless and puts the existing social safety net at risk."
The NLC will present its findings to a joint session of the Staatsrat and High Council on 1 August 2022.
Though concerns from more minor politicians in Fremet abounded over what is effectively kicking a can down the road, Erna Solberg silenced criticism of inaction in a statement to the press today: "By allowing the NLC time to problem solve, free from the scrutiny of the press and political ambition, we can find a proactive, effective, and holistic long-term solution that isn't gutted by partisan politics, implemented with the goal of failure, or a target for future opposition politicians to attack. The decision to call upon the NLC was unanimous in the Staatsrat, and we will all consider the findings of the Commission. Through, as my colleague calls it, 'evidence-based policymaking' we can develop programs that will deliver for Fremet and Fremetians well into the future. We all want what is best for Fremet— we all want our people to thrive. No person should suffer homelessness or hunger due to loss of employment, and it is our duty as a society to do all we can to prevent the mental illness and socioeconomic conditions that lead to these forms of suffering.
Our community— our country— prospers together or it does not prosper at all."

Above, a TD Inquista Trust branch in Saint Dominico
Financial Sector Makes Selective Retreat from Continental Markets
RHODENHEIM— Citing significant exposure to unstable markets, Fremetian megabanks Nordbank and Trondheim-Dominion are pulling operations in Spain, the United Duchies, and Reitzmag. FremetiaBank (and its Bank of Copala City subsidiary) exited institutional banking operations in Spain and Inimicus.
Trondheim-Dominion's Inquistan operations, TD Inquista Trust, increased its provisions for loan losses to ₣5 bn, citing a massive ₣35 bn exposure to trade through the so-called Spanish straights, a potential flash point for economic and physical combat.
TD-D (TD Duxburia) wrote off a ₣362 million loss in trading on Duxburian exchanges as markets tumbled amidst protests over EU legislation. Nordbank and RBF's investment divisions increased their exposure to Duxburian markets, buying the dip.
Compensating for decreasing domestic deposits and losses from failed BCC expansions, FremetiaBank doubled down on recent investments into operations in Angleter and is rumoured to be gearing up for a major push into the Australian financial sector. FremetiaBank has increased its cash reserves considerably since Q4-2021 and has yet to announce what it intends to do with them.
RBF sold 600 branches including deposits in Fremet to Handelsbank for ₣70 billion. RBF used its cash injection to increase exposure to Duxburian markets and to expand its wealth management and private banking divisions.
RBF purchased 7 Duchies Bank from FremetiaBank, in a stock swap valued at ₣200 bn, plus an additional ₣90 bn in cash. RBF will return its large ownership stake in FremetiaBank in exchange for full control over 7 Duchies Bank.
Of the 5 major Fremetian banks, 4 will cease to have branch, investment, and institutional banking operations in Spain, the UD, Reitzmag, Inimicus, and Strathae by Q3 of 2022. RBF has maintained its operations in all named countries.
Nordbank announced a ₣19 bn investment in expanding its operations in Vayinaod, extending its branch footprint and institutional banking services to a significant portion of the population.
Fremetian banks have struggled to expand beyond core markets such as the DU, Fremet, Angleter, Vayinaod, and Inquista. Though this can be attributed to the risk aversion of these institutions, it also embodies the instability of European economics and politics. Fremetian banks have relied on domestic deposits at times to bolster their operations overseas— however, the 2013 and 1998 recessions taught these institutions and Fremetian regulators that international operations are critical for a country suffering from the after effects of decades of economic isolation and capital starvation.

Above: Port of Flachesfeld, Fremet's gateway to Icholasen
Return of Limited Travel Between Icholasen and Fremet
TRONDHEIM-- In conjunction with the ongoing summit between Whoopi Gaarder and Bernie Sanders, the AA and FSS have both announced a resumption of travel between the Republic and the UNSR. Limited visas will be issued for press, special events, education, and the transit industry issued on a case-by-case basis.
While met with generally widespread support in both the Staatsrat and the general public, Ursula von der Leyen, long a champion of travel restrictions with the UNSR, warned of national security risks inherent in easing travel. "We are reversing policy that took over a year to build and spread throughout Europe, and this reversal only serves to normalize the UNSR in the eyes of Europe."
Erna Solberg, when questioned in the Staatsrat, responded, "Madam Von der Leyen, if the intelligence services of the UNSR or any other foreign power wish to violate our borders, they will do so. That is why it is so very critical for our intelligence services in Fremet to be ever vigilent. Invalidating the passports and travel privileges of a single country and its people will do nothing to prevent Nicoleizian security services from gaining entry to Fremet. Preventing travel only serves to hurt those law-abiding citizens that could actually benefit from travelling between our two countries.
The UNSR has long been normalized. The Nine Dominions are not coming back. We must accept that. We must respect that the UNSR has made more overtures towards peace and reconciliation with this Republic in two years than the Nine Dominions did in nearly thirty.
We are moving into a new era of detente, and to do so we must balance vigilance with respect."

Above & Right: Anita Poehler, AA Commissioner, announcing the move on National Public Radio yesterday.
Trade & Travel Restrictions With Istkalen Lifted
TRONDHEIM— The High Council of the Republic rescinded travel and trade restrictions with Istkalen on Monday. Travel to the country has been moved into Risk Category C (Advised Against) with the likes of the United Duchies, Spain, Europolis, etc. Travel visas will still be required, but visa requirements will return to the base restrictions applied to Category C countries.
Trade restrictions have ended and policies have returned to standard protocols set out in Fremetian law and by the Bureau of Trade.
AA Commissioner Anita Poehler framed the move as a part of Fremet's cautious acknowledgement of recent improvements to stability in Istkalen and the continent as a whole.
She commented:
"We seek to work from a place of trust— but such trust must be earned. For now, the High Council has directed the AA to move ahead with a cautious optimism. Fremet may have closed many doors this past year, but we can open them as well— and this is an excellent opportunity to open the door to a country that we see immense potential in. These measures were put in place to protect Fremet and Fremetians from harm and to prevent rogue states from benefiting from our contact.
The Istkalener respect for collective ownership, the individual responsibility to society, and a broad rejection of western religious doctrine are commonalities we share— commonalities that are exceedingly rare in continental Europe. Any suggestion that the people of Istkalen or any people should be denied entry to Fremet on grounds of nationality is unacceptable.
The AA still advises against travel to Istkalen for the preservation of personal safety— but we have extended such advice to half of the European Union. Fremetians have proven themselves to be vigilant and adaptable at home, and this must be extended abroad— both at the individual and policy levels."