29 Jul 2022, 16:30

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President Grimwald promises that Elthize will enter the EMUzone before 2024

by Janice Kyou - July 29, 2022


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President Greenwich Grimwald and The Spanish Minister Of Social Affairs Barack Obama visiting the El Prado Museum in Madrid, November 2019. (image credit)


In his address to the nation last Tuesday, President Greenwich Grimwald announced that Elthize will switch to EMU no later than January 2024. The EMU, short for European Monetary Unit, is the common currency of six countries: Spain, Inquista, Vayinaod, Fremet, Montenbourg and Leagio. It was introduced in October 2020 after the Treaty of Finisterre, whose talks started three months earlier in July that year. In addition to all countries listed, the exiled free government of Icholasen also signed the treaty. However, the illegitimate communist government currently occupying the country doesn't recognize the said treaty, so no one in Icholasen uses the currency. Regardless, the treaty focuses on economic cooperation between the European nations and was a landmark moment in economical integration within the European Union.

One of the most asked questions leading up to the general election this year was whether or not Elthize would ditch the florin and use EMU as its currency going forward. In January 2021, Grimwald stated that Elthize would use a "special circulation status" with the EMU, accepting the currency alongside the florin. He explained that this move would improve relations with neighbouring Leagio, which is a member of the EMUzone. Grimwald also claimed that the move would improve tourism, a large sector of the Elthic economy. The move was approved by both houses of the parliament, the National Assembly and the Senate, and was approved by Grimwald himself in February of that year. While some MPs in the opposition questioned the action's legality, not much came of it, and while it is not technically the official currency of Elthize, many stores in Elthize accept the EMU today.

And it doesn't seem like President Grimwald is going to back down from embracing the EMU any time soon. In fact, in his latest address to the nation on July 26th, he made a promise: "I will make sure that Elthize meets the requirements and becomes a signatory of the Treaty of Finisterre before January 2024."

He also said: "We have been rejected from joining the treaty because we didn't meet the standards. I disagree. I believe that Elthize is a perfect country. However, my job is not to bicker and whine about it, it is to ensure that Elthic people have more convenient lives. It is also to keep my promises, as I have done in the past eight years as your president. So once again, I promise to put Elthize to EMUzone no later than January 31st, 2024. Mark that date."

This statement comes after the summit with Spain last month, in which Grimwald participated, alongside Minister of Foreign Affairs Oscar Crofton. Crofton stated that the EMU was one of the main discussion topics with the Spanish delegation. He also assured that Spanish President Jesús Aguilar and the rest of the Spanish government looked forward to Elthize joining the EMUzone in the future: "So far, we do not see any blocks in the way of Elthize completely switching to the EMU."

The country being a signatory to the Treaty of Finisterre is supported heavily across the political spectrum. The polls right before the 2022 election showed that only one-third of the country saw Elthize switching from the florin to EMU as a positive change. Today, that number has grown substantially, with 52% of the polled Elthics saying that Elthize switching to the EMU would be beneficial to their lives. 39% of the polled said they didn't mind a currency change, and only 7% of the polled said that the change would be negative for them.