KOSS (MicroTimes) – In the year 2016, Micronational economics seem to be rising game for micronationalists who bear the more ambitious qualities. The growing study of micronational economics continues now, perhaps larger than ever, with the announcement of a new project, and perhaps the largest, the Micronational Economic Group.
The Micronational Economic Group, nicknamed “the Group,” is a project which was created by five “founding states:” the Royale (Koss), the Bank of Wesley (Skovaji), the Royal Bank of Loquntia (Loquntia), Veronabank, and the Bank of Mcarthia (Mcarthia). Four of the five founding states are state-owned banks, and one, Veronabank, is private. The presence of Mcarthia, and Kit McCarthy’s signature on the MEG Foundation Treaty means that the Group is McCarthy’s final micronational project.
Upon McCarthy’s micronational departure, the Council of the MEG voted to eject the Bank of Mcarthia from the Council.
The MEG has a central governmental structure composed of a Council and an Assembly. The Council is composed of the four remaining founding states at the moment, however upon ten more banks joining the founding members must elect three banks to serve on the Council for a three month term. The founding member’s terms are unlimited.
The MEG has four primary projects, each covering a unique sector of economics. The flagship, MicroCoin, is the currency in which the other systems rely upon. MicroTrade is the stock exchange, founded by the merger of the two largest micronational stock exchanges, the Skovaji Stock Exchange (SSE) and the Quetico Microeconomical Stock Exchange (QMSE). MicroTimes is an online news outlet run through the MEG system, which runs a ticker on the MEG’s main page. Finally, MicroGamble, the first of its kind, which runs games and allows people to gamble their MicroCoin.
Kerry Stapleton, Prime Minister of Skovaji and MEG Councilman for Wesley, issued a statement to MicroTimes, “The Skovajan ministries for Economics and Foreign Affairs are both highly excited about this new body,” he said, and continued, “Skovaji has…been heavily involved with micronational economics and the new group…and as the Prime Minister, I extend both diplomatic and personal congratulations to the other members of the council.”
According to the MEG Council, nearly one week ago Henry Twain (Royale) was elected as the Organization’s first Chairman. Upon launch, Twain issued the following statement:
It is an honor and a privilage to serve as this organization’s Chairman. Two months ago Lucas and I had an idea of where we wanted micronational economics to go, and more importantly where it could go. Without the work of every founding member of this organization: Lucas, Kerry Stapleton, Karl Friedrich, John Houston, and Kit McCarthy. Additionally, without the help of the few people who helped us test this system over the past few weeks I extend my gratitude. This Group is going places, and I hope the community comes for the ride.
All systems were coded by Karl Friedrich, representing Veronabank, with consultant John Houston (Loquntia).
The MEG comes almost six months after the launch of the Micronational Dollar, and while the MicroCOIN is an ideological successor to the Micronational Dollar, the organization as a whole does not demand any resemblance or affiliation with the former project, despite Kit McCarthy, Micronational Dollar founder, and Henry Twain, who’s stock exchange ran under the M$, both being founding members.