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Free Web Novel,Novel online - All in oicq.net -> Romance -> dream era Text Chapter 2567 The debt crisis breaks out! (Down)
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- Many people believe that the three major rating agencies in the United States are too ruthless.
¡°We didn¡¯t even wait until Greece could no longer afford to repay its debts, and then so hastily lowered Greece¡¯s sovereign credit rating, which really tasted like adding insult to injury.
The female boss in Germany directly criticized the three major rating agencies for "having no sense of social responsibility and only fanning the flames in order to avoid chaos in the world." The British Prime Minister also criticized them in the same way.
But not many people know that the three major rating agencies have not contracted at all, and their attack on Europe has only begun now.
On September 4, the three major rating agencies announced again that in view of the severe financial situation in Greece, they will lower the ratings of five major Greek banks: the National Bank of Greece, the European Bank of Greece, Alfa Bank, Raieves Bank and the Agricultural Bank of Greece. The credit rating is BBB level to indicate the risk.
This time it was like a hornet's nest had been poked, and it became lively.
Many people don¡¯t know what the role of rating agencies is, so let¡¯s talk about a very simple role.
As long as you get the evaluation document from a reputable rating agency and believe that your company is a good asset, you can rely on this evaluation document to deal with banks and partners.
On the contrary, if a reputable rating agency considers your company to be a low-quality asset, then the banks will call back the loan from you because they think it is risky to do business with you; investors will not believe you because they are worried about investing. Will suffer a huge loss
Now you can see how powerful the three major rating agencies in the world are, right?
In a certain form, they are the arbiters of the credit of enterprises and the country, and they also have the power to control the credit of the country and enterprises.
Once these three major rating agencies say you are not good, then investors all over the world will think that you are not good.
This is the credibility and prestige accumulated by the three major rating agencies over the past few decades.
Now they are used together on the Greek government. The Greek government may be able to resist it for a while, but when used on the five major Greek banks, they really have no power to resist at all.
Just half a day later, Greece¡¯s fifth-largest Agricultural Bank of Greece was the first to announce. Due to the suspension of operations due to technical reasons, the bank's ATMs will no longer accept deposits and withdrawals. The specific reopening time is to be determined.
The next day, Greece¡¯s fourth-largest bank Raieves. It also announced restrictions on all bank branches, including AT machines, and each person can only withdraw 20 euros in cash per day.
This move by the two banks has seriously affected Greeks¡¯ confidence in their country¡¯s economy.
¡°For a time, the other three banks that were still open were overwhelmed by people withdrawing money, whether they were urban or rural branches. They are all overcrowded.
For this reason, the three major banks were immediately under tremendous pressure. According to the words of a bank insider, even if they did not follow the example of Agricultural Bank of Greece and Raieves Bank, according to this situation, the three major banks would not be able to sustain it for a week. .
The Greek Ministry of Finance had to bite the bullet and announced that it would allocate 2 billion euros from the fiscal account and inject capital into the three major banks to help them stabilize the situation.
At the same time, the president of Greece also repeatedly called on everyone not to panic. The Greek government is confident that it will solve the problem. The Greek country is running normally and there will not be any crisis at all.
However, there is an idiom that conceals the truth, and the Greeks are not fools. When they saw that the government¡¯s plan to solve the problem was to allocate only 2 billion euros for capital injection, and the three major banks together only had 2 billion euros, they immediately believed it. Our country's financial situation is already in dire straits, otherwise how could we spend only 2 billion euros to solve the crisis?
The people don¡¯t know. In fact, the Greek government is also in a headache.
Because Greece is now in the European Union, and the currency circulation is mainly the euro, the role of its own central bank is very small, and it is impossible to be like the Federal Reserve. As soon as there is a situation, money will be printed and used.
If you want to mobilize a large amount of euros for use, you must have sufficient deposits to apply to the European Central Bank. It is not just what you want.
This 2 billion euros is the Greek government¡¯s maximum mobilization of funds. Now they don¡¯t even have 2 billion euros in their account.
An atmosphere of panic is spreading throughout Greece. That night there were many riots in Athens, and it was said that a huge demonstration was in full swing.
Faced with this situation, not only the Greek government was confused, but also the powerful EU countries who had been repeatedly reminded by the Chinese government were dumbfounded.
They didn¡¯t expect that the disaster would come so quickly and the blow would be so severe.
Although the United States is fanning the flames in order to prevent chaos in the world, Greece is really too weak, right?
They can¡¯t withstand such difficulties. This shows that the situation in Greece is really bad. The slightest disturbance almost caused them to collapse.
Since this is the case in Greece, what will happen if the four major countries of Italy, Spain, Portugal and Ireland, which are in similar situations to Greece, are exposed to debt problems again?
The entire European Union will soon fall into a serious crisis of disintegration
The most powerful countries, the UK, France and Germany, are actually not in a good situation. When they checked credit default swap insurance, they found that many banks in their countries had huge loopholes.
¡° Take the Greek sovereign debt bond, for example. Goldman Sachs and other investment banks and fund companies used it to insure 12 banks including Deutsche Commerzbank, Lloyds Bank, and Credit Lyonnais of France.
¡°Everyone has been happy collecting insurance premiums in recent years, but if Greece defaults on its debt, these banks will lose their pants and lose money.
Fortunately, China informed them a month in advance. Various countries in the EU have made some preparations more or less. France, the United Kingdom and Germany have taken a tough stance and ordered banks to resolve these hidden dangers as soon as possible. Therefore, even if it is a crisis When it comes, they are well prepared to deal with it.
At present, banks have been in urgent communication with Goldman Sachs and have joined forces to use the most severe threats to threaten Goldman Sachs and other companies to abandon such "unethical insurance contracts."
Goldman Sachs is also a little confused. They originally wanted to take advantage of the chaos to fish in troubled waters, but now they know it in advance. If they insist on taking action, I am afraid that Goldman Sachs will never be able to enter these countries in the future.
On the one hand, there are huge current benefits, and on the other hand, there are long-term benefits. Goldman Sachs has very different opinions on this. It is still under discussion.
Small fund companies don¡¯t have such scruples. Anyway, I just want to make money, and it¡¯s not illegal. Why do you blame me?
So they firmly refuse to admit that such credit default swap insurance is immoral. It is strongly required that things be done according to the contract, otherwise these banks will be sued for breach of contract.
This made those banks so angry that they almost vomited blood.
But the bank has no way to blame them and can only try to reduce losses as much as possible.
But no matter what, according to the feedback, Britain, France and Germany in this life are definitely not as panicked and at a loss as in the previous life. Then the losses they suffer will be much reduced, and the EU's vitality will be preserved a lot.
However, there is no way to avoid the debt crisis in those five countries.
¡° The five countries affected by the disaster are not just a matter of the five countries. The small countries in Europe have debt problems to some extent. When the time comes, everyone will encounter difficulties and will need help from several powerful countries.
Therefore, the EU will definitely be hurt this time and lose at least one-third of its vitality.
The EU has lost one-third of its vitality. It is always much stronger than the previous life, and the battle with the United States will definitely be more intense than the previous life.
"Oh, Mr. Qi, you don't know that Larson and the others are going crazy with joy now. With the outbreak of the Greek debt crisis, their layout for more than a year can be considered a success, and they can earn at least more than a billion. Even billions or tens of billions of dollars in profits?" Tong Wencong sighed with emotion when he called.
"Don't envy them. After making this money, can they still invest in Europe and only make trouble in the Americas and Asia in despair?" Xiao Qi said with a smile, "In the future, you can invest in Europe openly. Business, acquiring companies with potential and doing their financial business, isn¡¯t that enviable?¡±
¡°But seeing that I can¡¯t make so much money is simply a kind of torture.¡± Tong Wencong was still a little reluctant to give up.
"When you only think about how much others earn, why don't you think about how much we earned from the subprime mortgage crisis and gold futures?" Xiao Qi asked.
"Haha. Yes, speaking of it, the last income from the subprime mortgage crisis was collected two days ago, and it is 3 billion US dollars more than expected." Tong Wencong said with a smile, "And I don't care about the gold futures." It has earned 2.6 billion U.S. dollars, almost 4 billion U.S. dollars in two or three years. This is the top rate of making money in the world."
"So, there are many opportunities to make money. You don't need any money to make it. It won't be good if you are hated by these countries." Xiao Qi nodded and said, "Just wait and see, this time these fund companies, there are three major Rating agencies, if they jump out to be the vanguard, they will definitely not get any benefit from them.¡±
"I know, HuaThe country has warned the EU countries in advance about the debt crisis. They have been prepared for it." Tong Wencong said, "Speaking of the fact that there are so many smart people in this world, I am content to just follow Qishao to make money. "
Having cooperated with Xiao Qi for so long, Tong Wencong not only made a lot of money profits, but also helped Xiao Qi acquire several companies, and gained quite a reputation as a broker.
As far as a Wall Street fund manager is concerned, Tong Wencong may not be that outstanding, but his stable investments and strategies have still won the favor of many people. In the past two years, he has managed more than 5 billion US dollars in funds, which is considered to be in the limelight. Upright person.
Thinking that his development from a small fund manager to the present was almost entirely due to Xiao Qi, so Tong Wencong immediately abandoned the regret of not being able to participate in the European debt crisis feast, and determined that he would continue to follow Xiao Qi
Making money with the world¡¯s richest man is very safe
Xiao Qi knows very well about Tong Wencong¡¯s thoughts.
¡° Ordinary people are indeed itchy when they see so much money that they can¡¯t make.
What¡¯s more, Tong Wencong is a fund manager, and he knows very well about such financial derivatives, and he knows even more about the profits contained in them.
¡°But Tong Wencong also listened to Xiao Qi¡¯s advice, controlled his greed, and did not take a trip into this muddy water. This is why Xiao Qi was willing to pull him to make money in gold futures.
For honest and obedient collaborators, Xiao Qi has never been stingy. To be continued - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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