Iberian-Apennine Summit · Three
Governor Ebiasso of Genoa was, in the end, from an Aristocratic Family of merchants, and reacted the fastest. He immediately rose and said:
"Your Highness, I believe the French Reserve Bank is extremely suited to undertake this responsibility."
Joseph was very pleased by how well he understood the situation. He smiled and gestured for him to sit, then shook his head and said:
"This is a bank that serves the Common Market. Having a French bank take on that role concurrently would not be appropriate.
"I suggest that all member states jointly contribute funds to establish a 'Mediterranean Bank.' According to each nation's proportion of investment, they will receive shares in this bank.
"This bank will not conduct ordinary deposit and lending business. It will focus only on settlements between member states and state-level loans."
Hearing this, the representatives of the various nations all nodded, their admiration for France's magnanimity growing even stronger.
A bank that managed transnational trade settlements like this was bound to possess enormous influence, even enough to sway the rise and fall of a nation's trade.
France had actually allowed all member states to invest together and participate in management together. This sincerity was something even one's own blood brothers might not necessarily manage!
All around, another wave of lavish praise immediately rose.
Joseph raised a hand to signal for everyone to quiet down, then continued:
"In order to standardize the Mediterranean Bank's operations, and also to facilitate trade settlement and loans within the Common Market, I believe it is necessary to designate a currency as the standard settlement currency.
"When the various nations conduct international trade, they will all make payment in the standard currency. This will not only be highly efficient, but will also make trade disputes less likely.
"Each