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Text Chapter 2563 The Prelude to the Debt Crisis

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    As the end of August approaches, the air over Europe is becoming increasingly tense.

    Since August 15th, the major EU member states have frequently held closed-door meetings. Although outsiders did not know what they said at first, before and after each meeting, the financial leaders of European countries  From the heavy look on his face, he knew something big was about to happen.

    By the end of the month, everyone had heard some news one after another.

    Greece

    The problem this time is Greece

    Although there are still a few months left in 2009, the financial situation of this year is basically clear.

    European and American countries are not like Japan, where March is the financial settlement period every year.

    I don¡¯t know where the EU got the news. They heard that Greece¡¯s debt far exceeded EU regulations, and that in November at the end of the year, they had a large loan that had to be repaid.

    The loan amount is 6.5 billion euros, but the Greek government's account only has 8.3 billion euros. This money also includes various expenditures for the remaining three months of this year. It is not enough to repay the loan, and even these expenditures may not be enough.  .

    Journalists always get what they want.

    What's more, the Greek government is full of people who can sell information for money, so on Sunday, August 31, the British "News of the World" published an article, "Is Greece about to face a bankruptcy crisis?"  ¡·

    You may not be familiar with "News of the World", but if you talk about its other name, "The Sun", you should be familiar with this newspaper, which is famous for its gossip news and three-page girls, right?

    "News of the World" is the Sunday edition of "The Sun". Any "Sun" published on Sunday will be renamed "News of the World".

    Of course, if you want to say that "News of the World" and "The Sun" are two publications, it is actually not bad, because their editors and reporters are separate, but people generally regard "News of the World" as "News of the World".  Just the Sunday edition of The Sun.

    Don¡¯t forget that the News of the World only publishes one issue a week, but it is the highest-selling newspaper in the UK, with more sales than the Sun on an ordinary day.

    As for the reason.  That is, it often publishes many interesting news, scandals, gossip, etc. that are not found in other newspapers, which is what the audience likes the most.

    In fact, the "News of the World" in the previous life was obsessed with it because it tasted the sweetness of this.  If there is no scandal and gossip, just create it yourself. In the end, it will be condemned by people all over the world. As a result, Murdoch can only be forced to close the publication and let the "News of the World" disappear from then on.

    The current "News of the World" comes from this period of self-created gossip and scandal.  Seeing that there was such breaking news in Greece, their reporters immediately rushed over and bribed Greek government officials, Greek bank officials, etc., and finally got what they wanted.

    This time, the "News of the World" did not cheat, because the real situation was very eye-catching.

    "According to insider information, Greece's government fiscal deficit is likely to reach 13% of GDP this year, and the public debt to GDP ratio is as high as 113%. As we all know, the EU has concerns about these two  The data in this regard have strict regulations, among which the fiscal deficit must be at most 3% and the public debt must be less than 60%. However, Greece¡¯s deficit has reached the current alarming level.

    Greek officials admit that the Greek government¡¯s financial situation has now reached a very dangerous point.  Their account in the Ministry of Finance is already less than 5 billion euros. At the end of October, the government had 3.3 billion euros of debt to repay, and in November it had another 4 billion euros of debt. But in the remaining three months of this year, Greece¡¯s normal  Financial expenditures have reached as much as 12.5 billion. How will the huge financial hole be filled?

    A top three bank in Greece has confirmed this to us.  They have received a request for help from the Greek government.  It is said that the top several major banks have received such requests, and the total amount of loans required will exceed 20 billion euros. Judging from the capacity of Greek banks, it will be difficult for them to raise this huge sum of money.

    Why is Greece where it is today?  We have to start from a few years ago, when the Greek government was trying to join the EU.  In order to successfully meet EU standards.  After entering the European Union, which is more secure and more profitable, Greece, which was originally unqualified, turned to Goldman Sachs in the United States to make false accounts.  They falsely increased their income and then falsely reduced their debt. The result was that Greece successfully joined the EU, but their debt problem has been kept under water.  Then it developed more and more, and finally reached the point where it can no longer be concealed.

    "Do you think this year's debt is Greece's biggest crisis?"??  Wrong, let me tell you that in the year after next year, Greece will have a total debt of more than 70 billion euros about to mature. That will be the most difficult time for Greece. After all, the development of the European economy has been stagnant in the past few years, and Greece has no competition at all.  A country with strong power is even more dangerous, right?  "

    All right.

    The last thing that revealed the grudge between the Greek government and Goldman Sachs was Xiao Qi who found someone to expose it.

    Although Xiao Qi and Goldman Sachs have had a lot of cooperation, just as Xiao Qi would definitely add insult to injury to Goldman Sachs during a crisis, Xiao Qi has never considered a giant like Goldman Sachs as a friend.

    ¡° Betting against Goldman Sachs on oil is only one aspect. Now that Goldman Sachs¡¯ shady story in Europe has been revealed, it is also another aspect.

    There are even high-level officials in China, and what the UK, France and Germany revealed about Goldman Sachs¡¯ credit default swap insurance was Xiao Qi¡¯s move against Goldman Sachs.

    It¡¯s not just Goldman Sachs, including the two major banks of Morgan Stanley, and some other investment banks. Their troubles in Europe were also revealed to governments by Xiao Qi through senior officials in China.

    In order to crack down on this giant that is making trouble all over the world, Xiao Qi spared no effort.

    ?????????????? Otherwise, before Fairy Bank fully grows up, an overly powerful investment bank will be a threat to Xiao Qi.

    The sign of the growth of Fairy Bank should be when Fairy Company took over most of the commercial sites in Asia.

    Not to mention Xiao Qi's intentions, as soon as the "News of the World" report came out, and they dedicated three pages to introduce the Greek debt crisis in detail, the whole of Greece suddenly became famous, throughout Europe and even the world.  People began to pay attention to this crumbling country.

    This is not a period of war. It is impossible for a country to perish.

    But it is very likely that it will go bankrupt, just like Iceland last year.

    But Iceland only has a population of over 300,000 and a land area of ??only about 100,000 square kilometers. Can it compare with Greece?

    ¡°And Iceland has extremely rich marine resources. Even if the country goes bankrupt, they don¡¯t have to worry about food and clothing. Can Greece do that?

    Therefore, the debt crisis in Greece is far more serious than that in Iceland, and the consequences are also much more serious.

    The European Union has been focusing on dealing with the debt crisis in Greece during this period. Considering Greece¡¯s tough stance some time ago, everyone knows that there are already signs of a debt crisis.

    However, just when everyone is worried about Greece, Greece is still talking tough, saying that it has enough ways to raise money to solve the debt crisis.

    They feel that although Greece is currently facing difficulties, the country's system is still very sound and the economic direction has not changed significantly. The problem can be solved by borrowing and increasing government bond investment transactions.

    Looking at the TV, the Greek leader was beaming with joy, so Xiao Qi turned off the TV directly.

    ¡°These guys usually deceive voters a lot, and now they even deceive themselves.

    ¡°If Greece¡¯s problems were so easy to solve, how could it be that it was impossible to get out of the crisis for so many years?

    ??Some things are not judged by what people say, but by how they do it.

    Greece is a generally lazy country. How can it possibly have good means to solve the various ills accumulated over the past few decades?

    ¡°It was the same in the previous life. If the EU hadn¡¯t been bailing out Greece, they would have collapsed long ago.

    But even at that time, Greece was not ashamed to receive aid while lambasting the EU for interfering in their economy.

    In Chinese terms, this is how pretentious a bitch is

    Now that journalists have opened up this hole, the next step should be the expected joint strangulation of the three major rating agencies in the United States, right?

    Even though the EU has made a lot of preparations, Greece simply doesn¡¯t buy it, so this time they will never be able to escape the trap carefully designed for them by the Americans.

    "A trap designed seven or eight years ago is being harvested today. Americans are indeed very patient."

    Of course, if the U.S. subprime mortgage crisis hadn¡¯t broken out, maybe the U.S. could have stayed in Greece for a few more years.

    But now the financial crisis in the United States has had a considerable impact on them, so the United States naturally wants the European Union, the world's second largest economy, to suffer along with it.

    Weaken the EU and the decline of the United States will be less noticeable.

    After finishing the European Union, the next step is to harvest Japan, South Korea and China.

    This is itIt's the Americans' wishful thinking.

    They really did it in the previous life.

    It was obviously the Americans who made the mistake themselves, but in the end the whole world helped them pay the bill.

    The most unbelievable thing is that when the financial and manufacturing industries around the world are wailing, it is the United States that is the first to regain its vitality and the economy is on the rise.

    But it¡¯s impossible to do this in this life

    With Xiao Qi here, let the EU and the United States go and kill each other

    It just gives China a few years of good development opportunities. To be continued
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