Vallosi Economic Association
The Vallosi Economic Association (VEA; Pelaxian & Isurian: Asociación Económica Vallosía, AEV; Emeritan Pelaxian: Associa Economica Valosia; Insuo Loa: iloiue ka'áása Ukatata hunaoi Kauiri, iUK) is an economic union spanning across three countries in the subcontinent of Vallos. Its member states are Castadilla, Lucrecia, and Takatta Loa. It was formed in 1968 after the signing and ratification of the Treaty of Emérida d'u Mar. Its primary goal, as the treaty that established the VEA states, is to serve as a regional economic association that would see trade barriers between member states being reduced as well as to foster a regional economic zone independent from global interference. The VEA also serves as a forum for diplomatic summits regarding the Vallosi subcontinent as a whole. The VEA's structure is noted to be loosely-organised which is often used to contrast itself from other regional blocs such as UNESARP or the Levantine Union.
Vallosi Economic Association Asociación Económica Vallosía (Pelaxian & Isurian) Associa Economica Valosia (Emeritan Pelaxian) iloiue ka'áása Ukatata hunaoi Kauiri (Insuo Loa) | |
|---|---|
 Flag
 Seal
| |
| Administrative centres |
|
| Working languages | |
| Type | Economic union |
| Membership | |
| Leaders | |
• President of the Primary Committee |  Maxima Cerruti |
• Prefect of the Court of Justice |  Venito de San Giamo |
| Currency | |
The VEA was primarily the brainchild of Fernando Pascual, long-time prime minister of Delepasia during the Estado Social, who initially wished to create a forum that would unite conservative Pelaxian-speaking corporatist regimes in Sarpedon, but the onset of the Second Great War in 1934 had put said proposal on hold, and by the time the war had ended in 1943 interest in such a forum had largely died out as corporatism became heavily stigmatised. The idea would not resurface until the mid-1960s when Pascual started to warm up towards economic liberalisation. As Pelaxia had largely diverged politically since the original corporatist forum idea was raised, the primary idea was altered significantly so as to serve as a regional economic forum for Vallosi nations.
Initially, the VEA consisted only of Delepasia and Lucrecia, but in the 1990s after the fall of the Estado Social the VEA extended an invitation to Takatta Loa to join. Its much larger economy had allowed for the VEA to see a rise in development and financial security for all member states. Nonetheless, the VEA has often become the main focal point in a few conspiracy theories as well as non-conspiratorial criticism for its alleged bias in favour of its Occidental founding members.
History
Background
The primary inspiration behind the VEA was Valloism, an idea that had emerged after the final abolition of the Pelaxian monarchy in 1852 which called for all former colonial nations in Vallos to unite. It was relatively obscure for the most part due to its rather blatant support for a multicultural Vallos, and it wound up being co-opted by Delepasian exceptionalism which called for a united Vallos under the guidance of the Delepasians. Instead, Delepasian exceptionalism supported the idea of an economic union with other Pelaxian-speaking nations, seeing the Pelaxian civilisation, which Delepasians saw themselves as being the rightful heirs to, as being the force for civility and Occidental ideas in Vallos. Of course, such an idea was seen as rather unimportant after the end of the First Great War; economic struggles that have emerged became a major roadblock for any serious proposals to be made.
After his appointment as Delepasia's effective economic ombudsman in the early 1920, Rosarian economics professor Fernando Pascual was able to balance the budget and give the government its first surplus in years. This surplus was only the beginning of economic recovery for Delepasia which was soon compounded by Pascual being appointed as the Delepasian head-of-government and the subsequent turn towards corporatism which ensured not only steady employment, but also economic stability. By 1926, the Delepasian economy had managed to recover to roughly a quarter of the strength of the pre-war economy.
First attempt at an economic forum
Satisfied with the overall economic situation having been stabilised and recovering, Pascual could finally focus on what he wished to have implemented during his time as an economics professor. Chief among these ideas, asides from the Estado Social, was to create an economic forum for the corporatist, conservative-oriented Pelaxian-speaking nations in Sarpedon which by 1926 were Pelaxia, Lucrecia, and Delepasia. Although an agreement could be reached with Lucrecia relatively quickly, an agreement with Pelaxia, which was still reeling from the after-effects of the overthrow of the Second Pelaxian Republic, could not be reached so easily, and it was not until 1933 when Pelaxia would finally begin to enter into negotiations over the possibility of joining this new conservative economic forum. The negotiations proved to be successful and the final signing of the proposed Treaty of Albalitor was due to happen in 1934.
Pascual's hope for a conservative economic forum would soon be dashed in March of 1934 when the Second Great War began and the Treaty of Albalitor had to be put on hold indefinitely until the war would end. Delepasia could not avoid entry into the war as it had already maintained a pro-Levantine stance and was a member of LOTA, and by the time the war had concluded with the Treaty of Kartika in 1943 overall interest in Pascual's idea for an economic forum had largely died out as corporatism became stigmatised and unpopular; Pelaxia had lost interest in joining and was heading towards another military coup which forced a gradual democratisation, and Lucrecia had backed out of joining the proposed economic forum due to Delepasia fighting against Caphiria as well as increasing political discontent. By 1949, only Delepasia was still under a corporatist economy which was showing its age rather quickly as the economic growth that it brought in the 1920s and 1930s had stagnated.
Treaty of Emérida d'u Mar
The Delepasian economy would not begin to reform until sometime in the 1960s when Pascual began to implement token economic liberalisation, which would eventually be replaced with a more sincere economic liberalisation in 1970s, and decided to revive his old economic forum idea albeit with a focus on Vallosi unity rather than Pelaxian unity. The primary reason behind Pascual's wanting to revive the economic forum idea was to open up a market to Delepasia, and the one country that was pursuing a market-based economy, was a sovereign Vallosi state, and was somewhat friendly to Delepasia at that time was Lucrecia. Negotiations between the two states were successful and resulted in the signing and enactment of the Treaty of Emérida d'u Mar in 1968 which formed the VEA.
The early years of the VEA would see Delepasia go through a period of economic liberalisation and drifting away from the insistence on sticking to corporatism that had plagued the first few postwar decades which allowed for consistent economic growth to return. This in turn also allowed for Delepasia to open up its trade barriers to the rest of the world in the latter half of the 1970s and the early 1980s. By 1983, the last full year under the Estado Social, Delepasia's economic growth had allowed for its GDP to be worth more than half of Lucrecia's GDP.
Modern history
The end of the Estado Social after the Velvet Revolution began in 1984 would see the VEA go from merely a vehicle for Delepasia to get around practical economic isolation to being a sincere regional economic union for Vallos. Indeed, once the skirmishes had died down in Delepasia, which was renamed to Castadiilla, in 1989 there began a push towards inviting Takatta Loa into the VEA as a member as well as expanding its influence over Vallejar which would gain observer status in the VEA in 1996. By the year 2005, thanks to the new socialist government's implementation of a slow approach towards revolution through developing the country via a form of market socialism, Castadilla's GDP would finally go above the VEA average. In recent decades, the VEA has become a sort of a main diplomatic channel for Vallos with an economic reach that extends all the way to Peratra through the Castadillan state of Samalosi.
Membership
| Country | Accession date | Date of signature |
|---|---|---|
| Castadilla
|
21 September 1968 | 15 January 1968 |
| Lucrecia
|
21 September 1968 | 15 January 1968 |
 Takatta Loa
|
17 May 1991 | 13 October 1990 |
The Treaty of Emérida d'u Mar was initially signed by Delepasia (now Castadilla) and Lucrecia in 1968 with the VEA officially forming eight months later when the treaty went into effect. Tkatta Loa was formally invited to join the VEA in 1989 and had signed the treaty in 1990 with its signature officially entering into effect in 1991. Vallejar, in its initial efforts to emerge out of its isolation, gained observer status in 1996. All members are, according to the Treaty of Emérida d'u Mar, considered equal to one another with noFuture enlargement of the VEA has often involved either inviting Arona into the VEA or elevate Vallejar's status to full membership.
Governance
The largely loose organisation of the VEA has made it so that there does not exist the kind of governance that is found in other regional organisations. There is no single president nor is there an organised political system to accompany the VEA. Instead, the overall government of the VEA is largely consultative and advisory and thus is considered a strictly non-partisan organisation.
Primary Committee
The Primary Committee is the main governing body of the VEA, and consists of the Main Commission, which serves as the de facto executive body and is currently composed of three members (one member per VEA member), and ten Working Groups which do the bulk of the VEA's work in enforcing the organisation's regulations. The President of the Primary Committee is elected by all members of the Primary Committee; candidature for the presidency is not limited to just the members of the Main Commission.
The ten Working Groups are as follows:
- Working Group on Environmental Concerns
- Working Group on Mineral Resources
- Working Group on Finance
- Working Group on Agriculture
- Working Group on Integrity
- Working Group on Trade Regulations
- Working Group on Funerary Practices
- Working Group on Power Generation
- Working Group on Travel Regulations
- Working Group on Technology
Court of Justice
The Court of Justice is the primary regulatory body for the VEA. Its main purpose is to self-regulate the VEA's regulations to ensure that said regulations are not in potential conflict with any member nations as well as to keep the VEA from overstepping its boundaries as set in the Treaty of Emérida d'u Mar; regulations can only be enforced if all members approve of it as the preservation of the sovereignty of each member nation is considered paramount in the VEA. Membership in the Court of Justice consists of three panels, one panel per member, and each panel consists of three members.