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Free Web Novel,Novel online - All in oicq.net -> Romance -> dream era Text Chapter 2588 The debt crisis intensifies
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- The European debt crisis is indeed a major financial and economic storm. ¡×¨J£¬
Facts have proved that Greece¡¯s debt crisis does not exist in isolation at all.
After them, in mid-September, Portugal was exposed to the same problem as Greece. The same problem was heavy debt and lack of repayment ability. The government no longer had any capital to deal with the crisis, and what was waiting for them was one loan after another.
Portugal has enough funds to last until the end of this year at most, but the debts they face from the World Bank, Royal Bank of Scotland and other banks amount to more than 20 billion euros, and domestic banks have a lot of bad debts.
After the news leaked, Portugal also panicked. The government immediately announced that they would drastically cut public expenditures and would actively raise funds to prevent the government from going bankrupt before March next year.
To make matters worse for Portugal, the three major rating agencies in the United States rushed to join in the fun and directly converted Portugal's national credit to the same level as Greece, reminding them of the huge debt risk and insolvency.
¡°Then their banks also suffered the same treatment. After lowering their credit rating, a run inevitably ushered in, and then the bank had to suspend operations, which triggered too much panic.
In fact, after Greece announced its maritime reform, countries like Portugal followed its lead in reform. Everyone has already seen that Portugal will be in crisis sooner or later.
What I didn¡¯t expect was that Portugal would fail so quickly, even saying ¡°strive not to go bankrupt¡±.
Even because Portugal is too small and lacks room to maneuver, once their debt crisis broke out, the situation seemed to be more serious than that of Greece.
The Portuguese knew that their government was about to go bankrupt and that various welfare measures would be stopped after next year. They immediately gathered a parade of hundreds of thousands of people. Demonstration in Lisbon, Portugal.
This kind of execution is completely more active than the Greeks. If they were half as active as protesting, they would not be where they are today.
Italy, Spain and Ireland seem to be unable to sit still. Their heads of government have spoken on various occasions, saying that their countries¡¯ economies have indeed been affected. The national debt does exist, but Britain, Germany and France have promised to rescue them, and the first batch of payments will be available soon, so please don't panic.
¡°However, some things cannot be hidden.
Since these three countries have said that they are in debt crisis, the people are naturally unstable.
The instability of the economies and people in these countries has also affected many small countries to a large extent.
Which country doesn¡¯t have any foreign debt?
The United States is the largest country with foreign debts!
But they have a strong U.S. dollar financial system. As long as this system does not collapse, then everything will be fine.
Now these EU countries. Just because they are in the Eurozone, the shocks in their countries have directly affected people's perception of the euro. Countless investors sold the euro at once, and the euro is facing a serious crisis.
What is the greatest reliance of a currency?
Of course it¡¯s its credit!
If everyone believes that your currency is valuable and can buy things at home and abroad, then your currency is valuable. As for whether your 100 yuan was printed with a paper cost of 0.1 yuan, it has absolutely nothing to do with whether it is valuable or not.
The U.S. dollar is such a currency. Therefore, every time there is a financial crisis, the Americans start printing money and devaluing it significantly. It's euphemistically called "quantitative easing", but it's actually just printing paper to pay back money. It's a complete scoundrel.
If people don¡¯t believe that your currency is valuable, then you can¡¯t buy anything with your currency, even if you say that the production cost of this banknote is as high as 100 yuan.
The currency in circulation in many small countries is like this.
So if they want to buy something outside, they can only use US dollars.
How come?
Then use your own real gold, silver, materials and minerals to exchange for it!
Banknotes printed on paper. You can get so many good things, do you think everyone is greedy for Americans?
That¡¯s why Europe united to form an EU and issued a unified currency, the euro, in order to circulate it as a clearing currency within Europe and then promote it to the world.
You Americans trade paper for resources. I can do it in Europe too!
So, the United States saw it in its eyes and took it to heart. Now that it had the opportunity to step on it hard, it would do it without hesitation.
Once the Eurozone becomes unstable,??Even if the euro loses its own credibility, it is not a matter of the instability of the economy and public sentiment in these European countries. We can directly declare the dissolution of the EU and reimburse the euro.
Without the euro competing with itself for the qualification to be the liquidating currency, the United States can continue to print money in exchange for the fruits of labor of people around the world.
This is the intention of the United States.
The European debt crisis is relatively troublesome, but what is even more troublesome is that the United States is adding fuel to the flames.
¡°Whether it is the three major rating agencies or American newspapers and magazines, they are increasing the psychological burden on the European people and causing a major blow to the Eurozone and the European Union.
Goldman Sachs and other Wall Street investment banks and fund companies are another method used by Americans.
In addition to the national debt crisis, countries such as Greece, Italy, Spain, and even Germany, France and the United Kingdom still have credit default swap insurance.
Now that Greece and Portugal are obviously about to default on their debts, the banks will have to pay full compensation for the credit default swap insurance purchased by these investment banks, and the funds involved will exceed at least 50 billion euros!
Don¡¯t think that all banks are rich. The interest rate difference between bank deposits and loans in Europe and the United States is very small. It is impossible for banks in China to make a lot of money just by eating the interest difference.
Foreigners don¡¯t save much money. Secondly, even if they save money, banks will directly use it for various investments. The popular financial products in the past ten years are good things that banks think have great potential for value-added.
Including subprime mortgage bonds, before the subprime mortgage crisis broke out, they all had annual dividends and their value slowly increased, and they were known as "stable and reliable financial products."
So during the last subprime mortgage crisis, European banks were on their knees once, and now more targeted credit default swap insurance is coming. How can they, who already have very little cash, compensate for it in a short while?
"With such a large sum, if you can't pay it off, you'll have to go bankrupt and liquidate."
In the past ten days from the beginning of September to now, eight small and medium-sized European countries have gone bankrupt due to credit default swap insurance, and another 20 or 30 companies are in a severe situation, which makes the local people Terrified.
So, under the dual effects of the national debt crisis and credit default swap insurance, European stock markets plummeted, and many companies also went bankrupt.
Companies in other countries with large interests in Europe have also been severely hit.
For example, Japan¡¯s six major financial groups suffered heavy losses.
Many companies that did business with them went bankrupt before the transactions were completed. Now the money owed to them, as well as some of the areas they invested in, have completely come to a standstill.
Coupled with the sharp fall in European stock markets, the Japanese stock market also plummeted. Many clubs of the six major consortiums once again felt what the financial winter was.
Among them, Itochu Corporation, which claims to do business all over the world, suffered particularly heavy losses.
They have a lot of investments in Italy, Greece and Spain, including telecommunications, land, commerce and so on.
Now these countries are on the verge of collapse, which has dealt a huge blow to their business development.
After this situation was fed back to the Japanese stock market, Itochu Corporation's stock price dropped sharply. It fell sharply for a week in a row, reaching a serious decline of 27%. Nearly 30 billion US dollars of funds were evaporated, setting a record since the establishment of Itochu Corporation. The worst decline.
On behalf of Chairman and Chairman Hitoshi Ito, he apologized to all shareholders and resigned from ITOCHU Corporation on September 24, retaining only his shares in ITOCHU Corporation.
The Ito family, one of the three most powerful families of Itochu Corporation, has also fallen into a downturn.
He was replaced by the second-ranked general affairs director Naito Hirataka.
As soon as Heitaka Naito came to power, he assured everyone that Itochu has strong economic strength, and the losses in Europe are nothing. As long as Itochu Corporation is given a month, it will definitely make up for these losses, increase its cash flow, and try its best to get out of the crisis. impact.
¡°But Japanese economists and stock investors don¡¯t really believe him.
¡°After all, Itochu Corporation¡¯s losses are only the beginning. So many European countries will suffer later. Unless Itochu Corporation withdraws from these countries, there is no way to stop the losses.
But Europeans are very xenophobic. Once Itochu withdraws at this time, they will never be able to enter this market again, and all the work they have done over the years will be in vain.
After all, Europe is still one of the most developed groups on the planet.?Fujichu Corporation is certainly reluctant to give up.
If you are reluctant to give up, it means you must bear the expectation of huge losses.
Although Itochu Corporation has many interests in Greater China, according to the current situation of the European debt crisis, it may still be unable to escape huge losses, right?
So Itochu Corporation¡¯s stock is still falling.
Employees within Itochu Corporation, including a group of big bosses, are waiting to see whether Naito Hirataka has the ability to bring the precarious Itochu Corporation back on track.
However, Naito Akinobu, who had been looking forward to the Naito family taking power, was very happy at this time.
Because the business he discussed with Xiao Qi before has finally reached the point where he can discuss it in detail again!
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