The Conference of Santiago common currency substituted the 5-years-old Ebenthali Galleon
On 2 August 2020 the 4th Conference of Santiago summit took place in the city of Persenburg, capital of Karnia-Ruthenia, with representants of Ebenthal, Karnia-Ruthenia, Mauritia, Villa Alicia, Syldavia, Quinta Velha and Rino Island. On the occasion, the Ebenthali monarch, King Arthur II, officially presented his economic plan for the Conference of Santiago Common Market which included the creation of a common currency - the Conferential Doubloon, as baptized - and a financial organ. After some talks and explanations, all present representants voted and the result was unanimous for the official creation of both currency and associated organ, thus finalizing months of talks on the matter. The following day, His Illustrious Majesty The King presented the Conference Santiago definition to the First Lord of the Conclave, His Grace Lord Jonathan, Marquis of Rozandir, who presented it at the plenary of the parliament. In session with 13 lords, 3 absent, the votation took place and with 11 votes in favor and 2 against, the Conferential Doubloon was officialy adopted by the Kingdom of Ebenthal as it's national currency, dropping the Ebenthali Galleon which has been in use since it's creation in early 2015. By adopting the Doubloon with it's value attached to the pyrite standart price, as Ebenthal owns 27kg of the rock metal, it's economy was defined in 275.600 Doubloons, which was estimated to be enough to keep the country running for 137 years, given it's expenses, while the GDP per capita was estimated in little more than 2,300 Doubloons. In further talks, as the Doubloon's coins models weren't presented yet, the Emperor-King Oscar I of Karnia-Ruthenia suggested King Arthur II to have his mother, the late Princess of Triunphus, honored at one of the coins, to which the young monarch rejoiced. For more on the Conferential Doubloon access the MicroWiki article available here.
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