by Max Barry

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The Imperial Welfare Union of
Left-wing Utopia Utopia

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4

Avalonian Euro


MARKET RATE = 1.760635707
1Æ = 1.76 NSD
1 NSD = .56 Æ

Köbarnhavns Economic Journal

The Duchy of Ljondrijes Royal Trust Bank and Credit Union for Her Majesty's Foreign Holdings and Bonds, more commonly known as the Duchy of Londrijes Bank, has its official headquarters in Köbarnhavn, the National Capital, in a small building next to the Amalienborg Royal Palace. Inside the building, there is a large vault, a library of sorts detailing investments, an office for Her Majesty, and some administrative offices. With a large portrait of Her Majesty looking over it, a small table stands alone in a room, with light from the single window shining onto it like a spotlight. On the table is a large wooden box, lined with velvet on the inside, and with gold engravings on the outside in Old Avalonijene. Each year, Her Majesty enters this room, opens the box with a centuries-old silver key, and removes two of her Royal Stamps as well as a golden and silver pen. After signing a document renewing her patronship of the Duchy of Ljondrijes Bank, she stamps the letter with the Royal Seal of the Schleswig-Holstein-Sonderburg-Glücksburg House, and then slips it into an envelope, sealing it with the State Seal of the Avalonian People. The letter is then mailed to the Estate of the Duchy of Ljondrijes, at Bergholm Palace, which is the official premier location of the estate. After arriving there, it is sent to the Ljondrijes Bank Building, where the unofficial headquarters is, and where the Royal Executor works. The Royal Executor for ten years now has been Amber Rijidière. It should be noted that the Duchy of Ljondrijes Bank is different from the Avalonian Pension Investment Bank. The DLB is supervised under the umbrella of the DLB, but also manages Royal Investments as well as state investments. The DLB invests in all kinds of properties, and also has a managing part. The DLB takes active roles within companies, whereas the APIB takes less direct actions. The DLB does, though, use third-party investment groups sometimes, choosing other banks to work with. When the DLB invests in something for majority control, it will usually put its name on it. When it doesn't want to buy majority control, or when it doesn't want to put its name on it, it usually goes through another bank.

Today, Amber Rijidière, whose job is to manage the Duchy of Londrijes Bank and manage the Avalonian foreign investment fund, is making an important announcement outside the Ljondrijes Bank Building. With many reporters present, she stepped up to the podium.

"Good morning all. I have a short announcement to make. As many of you know, the Ljondrijes Bank is responsible not only for Her Majesty's Foreign Assets, but also for managing and maintaining a sizeable foreign investment portfolio, which we do for and in cooperation with the Avalonian Pension Investment Bank, which oversees all national pension investment efforts. We have just entered into negotiations with the Banking Institution known as the Bank of the First International, or La Banque de la Première Internationale. We have decided, after looking over Bank Policies, and after these negotiations, to partner with the Bank for a Sovereign Wealth Fund. We will be using their investment services to create and maintain Le Fond de la Premièr Avalonienne, or the Fund of the First Avalonian. The fund will begin with a starting investment of 4.000.000.000.0000Æ. We expect the fund to be extremely profitable, and we are very glad that the relationship we are building with this bank from Ave gattica will also be one beginning with the prosperity of the Avalonian People. Thank you, I will take some questions now."

Reporter 1: "Where will the money come from for this initial investment?"
The initial funding has been finalized, and has came partially from the Avalonian Pension Investment Bank's Surplus, the Avalonian Information Sector Surplus Union, which is the financial consortium of surplus from all Information Technology companies, and has partially come from the individual Avalonian Social Investment that Avalonians pay in taxes each year. Additionally, each year, we are pledging another 500 Billion Avalonian Euros to the fund."

Reporter 2: "What about ethical concerns?"
"As it is the policy for all Avalonian foreign investments, Avalonian investments through the Fund of the First Avalonia will be revised an Ethics Board, to make sure that we are profiting off investments that do not do harm to society."

"I'll take some questions from our Foreign Press and Representative Section?"

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