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TRPO: Rekish Economy Collapses


Ekejen Luish
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TIKON REKIŞ PUTES OFISAL

REKISH OFFICIAL STATE NEWS

SUDDEN COLLAPSE OF REKISH ECONOMY

Throughout the past month, the Rekish economy had been staying relatively level, with no significant growth or decline. It was expected that eventually the economy would experience some sudden change, however it was not expected that in less than a week, at least half a million Rekish people would lose their jobs.

In only six days, 99 of the top 100 companies at the Ulm Stock Exchange (PEPƏ) had their stock value crash at least 10%. The only of the top 100 companies that did not lose value was the Rekish International Trading Company (KKWR), a government-run business, which gained over eight percent. The KKWR now has by far the most valuable stock in Rekishtein.

Many experts agree that the government-run KKWR was a primary cause of the collapse. The KKWR was recently able to import massive amounts of resources in bulk for free due to deals the government made with other nations. The KKWR has thus been able to sell goods for extremely low prices, prices so low that companies have not been able to compete with them. Thus, many smaller businesses closed, followed by larger companies and even some of the giant corporations that have existed for several decades. The main industries hit by this crash include mining and agriculture, with notable companies such as Central Rekish Mining Corporation and Golenian Farms.

Market analysts say that the forced closure of several extremely large resource extracting corporations has had ripple effects on the Rekish domestic market. The closing of a few huge companies has caused several large banks and other companies to lose much of their value. Dragon and Heron Bank, one of the largest banks in Rekishtein, has gone out of business as they lost billions from defaulted loans, panicking customers withdrawing their savings, and deals with several companies that closed.

While the government is doing what it can to help those who were recently put out of work, many have been left unsatisfied. The Rekish Socialist Coalition and the Communist Party of Rekishtein have reported a sudden rise in membership applications.The recent events have also given rise to an underground group of radicals who call themselves the 'Egalitarians'.  Following the events of the past week, it is almost certain that the Socialists and Communists will play a pivotal role in the election later this year.

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NOVIAN NEWS NETWORK

NOVIAN GOVERNMENT FUNDS REKISH BUSINESSES

The Novian Government has announced that it is sending 40 million [Novian] dollars in aid to Rekish businesses and corporations to stabliize the economy. The Novian Government also said the aid will strengthen ties with Rekishtein.

TAXES ARE GETTING RAISED

Congress has announced that national taxes will be raised to about 43% and be raised up to 80% for the wealthy. Congress said that the new tax dollars will be used to fund education, health care, and to rebuilld housing. This will be in affect by the end of the week.

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Rekishtein accepts the aid from Nofa. The aid can be put to good use in our now stressed Bureau of Unemployment Compensation. However, Rekishtein will not accept any more aid from other nations for fear of increasing the problem by inflating our currency, the Rekish Ngenale, which is already decreasing in value.

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The German Minister of Finance and Monetary Council passed a resolution on August 29th Ceasing all German development in Rekishtein. All German Companies can no longer invest and trade in Rekishtein in fear that it will lead to a futher Economic downfall in Europe. Arch Duke Jæger said that he was prepared to help out the Rekishtein Economy, however, called on their government to do more and stop playing politics with its economy. It is no longer about Rekishtein's internal affairs, this is now about the stability of the European Economies and Global Economies. 

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The Rekish Senate attempted to pass a bill that would limit the growth of the KKWR, however it was shot down in a 19-for v 20-against vote. In other news, the Egalitarians have assassinated two Deputy Secretaries of Finance and Economics in a meeting on the 30 August. Ekejen Luish has passed activated Corridor 193 in emergency legislation, calling for the reparation of the Rekish domestic market. The KKWR is being temporarily frozen, while agents working with the Dept. of Finance and Econ. are attempting to supply the suddenly large amount of unemployed with jobs.

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