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Markets Tumble After Duxburian Cargo Protest Announced - Spanish-Vardic Summit Not Enough to Save Decline

NYETTHEM, Vayinaod
FEB 26 2022 8:28 GMT +2:15

The Nyetthem Exhange (NEX) shall an average of a 5% decline across the board yesterday after the first reports of a protest at sea organized by the Duxburian Longshore Union (DLSU). The report areas in which the expected protest is set to occur control seaways that involve some of the largest EU economies such as the Duxburian Union, Inimicus, United Duchies, Angleter and various nations participating in Caspian trade. While initially markets remained stable, the Nordsyen Dockworkers Union announced it was considering similar measures across dockyards in the Elsyven River Valley. Whether the protests are set to continue is yet to be seen as Cllr. James Mizrachi-Roscoe of the United Duchies withdrew his "European Enterprise Penalties" Act from consideration.

Various sources close to the office of Carita Falk, Vayinaod's representative on the European Council, suggest she is planning a meeting with Speaker Tilkanas of Istkalen to voice concerns about Cllr. Mizrachi-Roscoe on Monday.

The markets are expected to slightly recover once they reopen on Monday, especially as news about the finalized agreements from the Spanish-Vardic summit held in Madrid on Thursday. While the news had made its way on Friday, the uncertainty over regional trade in the coming weeks especially as supply and demand in Vayinaod will rapidly shift between industries in the coming weeks as the Winter ends.

The Spanish-Vardic summit saw an agreement to eliminate the need for visas for both countries for any visit below 210 days. Vayinaod also reaffimed its commitment to the European Monetary Unit program after Spain expressed concerns over its implemented, as the EMU has now been adopted as a secondary currency in the Vardic economy. The Archrepublic and Spain agreed to study the feasibility of eliminating tariffs between both nations, and studying and a agreement to pave the way to free movement. For now a tepid agreement on Vayinaod eliminating duties for Silicon imports, and Spain eliminating duties for natural gas and oil imports was reached. The Archrepublic would also reach out to private corporations on guaranteeing the Spainish market its needs.

"The Archrepublic is on its own timeline, and is completing the requirements of the Treaty of Finisterre as it sees safe to do so," Archkonsul Nylund was quoted as saying.

Prime Minister Aguilar of Spain affirmed that the Kingdom of Spain had no discernable interest in the Arctic region, and has no goals to interfere with nations in the region or the Archrepublic. This comes after Vayinaod took on a major political in a thinly veiled deal with the Kingdom of Mennrimiak where they removed the Spanish base from their arctic region in exchange for a Vardic mutual defense agreement. Sources close to the summit suggest that Vayinaod has agreed to generally turn a blind eye to happenings in the Southern Atlantic region, or more specifically events happening south of the Strait of Gibraltar without consulting the Spanish.

In the after summit conference, Archkonsul Nylund stated the following when asked by Spanish reporters over the Vardic stance on the Strait of Adventuranza.

"The Archrepublic of Vayinaod recognizes the strategic interest that the Kingdom of Spain has throughout the strait, but that Strategic interest does not in the Archrepublic's opinion overwrite the the natural right of the Federal Republic of Yosai to transit waters they border, as well as impede in any way their right to use those waters for trade as well Yosai's right to directly coastal waters. That right does not grant them ownership over any portion of strait necessarily however, and we implore both states to keep using diplomacy as the sole means of discussing issues pertaining to it. "

The far most interesting announcement was that after a year and a half of negotiation, the nations of Fremet, Inimicus, Spain, and Vayinaod had agreed to formalize the partnership they held during the Eastern Haane crisis in October 2020. This treaty organization, referred to as the Madrid Co-operation Organization, would see the previously Four Assembled Powers agree to share intelligence pertaining to national security and other fields, and develop joint tactical procedures in the event of another situation requiring their intention.

The treaty also requires the participating states to offer transit rights to some of the other nation's military forces whenever possible. This was done as a way to enable the ability for other nations to use each other as locations for military training. The Vardic portion of the Uralic mountains, as well as the Vardic tundra is likely to be an area of interest for many according to some military analysts.

However, the treaty specifically denies its use as an obligation for mutual defense in the case of attack. This was likely done to appease Vardic policy of preferring single-state mutual defense agreements wherever possible.

The formal signing for the Madrid Co-operation Organization is set to take place next week in Madrid with the heads of government of all four nations attending. The formal treaty text has been released for the publics use however in the mean time.

More news to follow next week.