Southern Economic Union

The Southern Economic Union or SEU was a proposed economic union between Amuj (then one state), Aylongam and Aistóv́y (then known as Uaigmnmo), which would have created a common currency between the three nations.

History

Proposal and initial talks

On 30 May 2024, the Gepach of Amuj, inspired by the Northwest Economic Union, proposed a similar union between Amuj and Aylongam, on the basis that their currencies at the time, the Wbun and the Tenō, held the same value. Later on Uaigmnmo was included due to lacking a currency of its own. Aylongami Quing Zendrid and Uaigmnmo Chief Fīl both expressed interest in the idea, and began discussions to establish the SEU.

During the talks, Amuj proposed that the value of the new currency, named the Echnep (Sesje: Eťnep [ɛʨ.nɛp], Vidish: Ecnep [eʧ.nep], Xindvâ: Echnep [eʨ.nɛp]), be the average of the three nations, despite one of those being zero, which would bring its value to ~1.33 XAU per unit, as opposed to the 2 XAU per unit of the Wbun and Tenō.

Controversy in Aylongam

While Amuj and Uaigmnmo both ratified the SEU treaty shortly after its drafting, the proposal caused intense debate in the Aylongami Parliament. Many MPs expressed outrage at the idea that the nation should trade in its currency for one that was lower in value, and risk weakening the economy, while others opposed any form of association with Uaigmnmo, which they viewed as despotic and wholly at odds with Aylongam's cultural values. Prime Minister KorzeN ħ also expressed uncertainty towards the idea. After several days of heated discussion, Parliament ultimately voted against joining the SEU. With Aylongam now out of the picture, Uaigmnmo decided to withdraw its own signature, leaving the union dead in the water.