Economy of the UNAC: Difference between revisions
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[[Category:UNAC]]
The '''economy of the [[United Nations of the Auroran Continent]]''' ('''UNAC''') is the largest customs and free trade area on [[Urth]]. As of 1 December 2021, the economy of the UNAC comprises 22 sovereign nation-states. 21 of the member states of the UNAC are upper income nations while 1 is an upper middle income nation. 21 member states of the UNAC (except [[K'undzeti|K'undzeti]]) including one other non-UNAC nation (i.e., Baykalia) are members of the [[Auroran Central Bank|Kirib Monetary Union]] (Kiribzone) using the [[kirib]] as their sole legal tender.
== Legal framework ==
{{Main|Auroran law}}
The laws of the UNAC govern the economy of the UNAC. The power to make laws which control the economy of the UNAC are shared by the UNAC and the member states. The [[Commission of the UNAC]] proposes and executes legislation while the [[Auroran Parliament]] and the [[Council of the UNAC]] discuss and approve legislative proposals. The Council of the UNAC can pass temporary or extraordinary acts which can circumvent existing laws which govern the UNAC economy. The treaties of the UNAC namely the Charter of the UNAC are the highest laws and they guarantee free trade, travel and movement of capital and create systems and structures for the coordination of economic, trade and fiscal policy among UNAC member states. Member states of the UNAC vary widely in their ideological stances but they all share some form of mixed socialist-capitalist economics.
==Currency==
{{Main|Kirib}}
The [[Kirib]] is the legal tender of all the member states of the UNAC except for Kundzeti which is transitioning from the provisional mark.. Once that transition is complete, all of the member states of the UNAC will use the kirib as their sole legal tender. The [[Auroran Central Bank]] (ACB) is the central bank of the Kiribzone. It is formally outside and independent of the UNAC. However, because most of the member states of the ACB are also members of the UNAC, the monetary policy of the ACB serves the interests of the UNAC economies. The Kirib the largest reserve currency in the world and it serves as the primary medium of exchange of the [[International Banking Exchange Cooperative]]. Thus, this gives the UNAC significant clout over the international financial system. The Kirib trades at 1 to 1 parity with the [[South Hills|SHD]]. The Kirib is a free floating currency known for its remarkable stability and confidence. The countries with the largest reserves of Kiribs outside the UNAC are the [[South Hills|United Confederation of Concordian States]] (UCCS), [[Packilvania]] and [[Peregrinia]].
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==Labour==
The UNAC also comprises a single travel area. Holders of UNAC passports get a visa on arrival upon entry into a UNAC member states. Citizens of UNAC member states face fewer barriers to living, working and studying in the UNAC than citizens from other nations. Island nations are allowed to restrict the number of people that they allow to live and work in within their borders to prevent overpopulation. These exemptions apply to [[the Oan Isles]], [[Yor]],
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