Rebirth of England.

Chapter 590 Hot Issues
Of course, this does not mean that after crude oil prices rise to the "default window", these oil companies will immediately choose to default.

After all, if they break the contract, they need to pay 20% of the contract amount.

In other words, in addition to the crude oil they have delivered to the BFT fund in March, the 3% liquidated damages of the total contract of US$600 billion still need to be paid.

In this way, these oil companies need to weigh whether oil prices will continue to rise or remain within the "default window", or whether they will only rise temporarily and soon fall back.

If the oil price does not enter the "default window" for a long time, then it is acceptable for them to bear a certain loss and insist on supply.

Therefore, it will take at least one month to make a judgment based on the comprehensive judgment of crude oil price trends and other factors before these oil companies will make a decision on whether to default.

There is also a possibility that they will choose to negotiate with the BFT Fund, either to increase the sale price or to reduce the amount of compensation. This also depends on the attitude of the BFT Fund at that time to choose what kind of decision they finally make.

The initial £250 billion received by the BFT Fund was converted into approximately US$525 billion.

Among them, US$300 billion was deposited in banks designated by oil companies as "margin" for large oil orders, and the remaining funds were invested in gold futures and spot prices.

At present, the BFT Fund has made nearly 100 billion U.S. dollars in profits from the rise in gold alone. If it can obtain 20% of the liquidated damages on large oil orders, then the profits of the BFT Fund will reach more than 220 billion U.S. dollars so far. , has exceeded the 30% rate of return.

Next, these funds can be invested in "buying the dip" after the subprime mortgage crisis broke out in full, which also means that there is no problem that the BFT Fund will finally complete the return of the 500 billion pounds and related interest to the British government.

However, Barron's ambitions don't stop there. The BFT fund will not just be used for investment profits, but will eventually be used to return funds to the British government. This fund can also be used as one of the carriers for his future investment layout. He will also follow up Will continue to inject funds into it.

……

“I think the London government’s response to the subprime mortgage crisis was ineffective. London is one of the world’s financial centers. The storm has deeply affected the banking industry. We need to give up some of our liberal approaches and try our best to help banks survive. Getting through the hard times…”

On TV, Joe Harriman, dressed intellectually, faced the camera and said:

"Of course, this does not mean to support the banks, but to prevent ordinary people from being too affected. After all, once the panic spreads, the destructive power will be huge. I think those bank boards of directors who have made mistakes should Live with the consequences of these mistakes.”

This year is an election year for the London government. At the end of April and the beginning of May, elections in Greater London will begin.

To be precise, this year is an election year for local councils in England, which includes elections for the mayor of Greater London, city councils, and district council elections in the 33 districts under their jurisdiction.

Different from the election of the Prime Minister, the election of the Mayor of London is a candidate system. The campaign started a year ago. The two people with the highest support rate currently are the Labor Party candidate and the current London Mayor Ken Leven. Stone, who has served two terms as London mayor, will be serving his third term if he wins this year.

Another acquaintance of Barron is Conservative candidate Johnson. Basically, the new mayor of London will be chosen between Livingstone and Johnson.

Interestingly, in the election of the Mayor of London, not only British people living in London are eligible to vote. The election for the Mayor of London stipulates that as long as citizens of the United Kingdom, the Commonwealth or the European Union who are over 18 years old and live in London are eligible, You can apply to run for mayor.

Well, that is to say, even if you are a citizen of another EU country, as long as you can prove that you have lived in London for a long time, you can still participate in the London Mayor election and vote for the candidates. That is why the official website of the London Mayor election provides services in up to 17 languages, and Chinese alone includes traditional and simplified Chinese...

Of the two candidates, Barron will naturally support Johnson, not only because he knows that in his previous life, Johnson won this election and was elected mayor of London.

It’s also because Johnson is considered Barron’s “own one”, while Livingstone, the current mayor of London, who is known for his maverick and tough style, has a very average relationship with Barron.

Don’t forget that when he acquired the London Stock Exchange, Livingstone was on the opposite side of Barron’s...

After Cameron became the leader of the Conservative Party in 2005, Johnson served as the education secretary of the "shadow cabinet". However, in order to prepare to run for mayor of London, he resigned from the "shadow cabinet" education minister in July last year. office, before the candidacy is formally confirmed by the Conservative Party in September.

In addition, Joe Harriman will also run in this local council election.

In the last election, Jo Harriman was elected as a member of the Greater London Borough of Islington. This time, she will run for the London City Council.

Therefore, during this period, Joe Harriman was also very active.

Because she is under 28 years old and is a minority woman, she will become a key training target for the Conservative Party.

So this time Joe Harriman is a must-win.

Of course, she will definitely get strong support from Barron...

Judging from the current situation, this time the Conservative Party is coming in force. Its support rate in local councils is very close to that of the current ruling party Labor Party, and it is very likely that it will cause an upset.

If the Labor Party loses this time in the local elections, they will be very passive in the parliamentary elections two years later.

The subprime mortgage crisis has greatly affected the American banking industry, and the European banking industry has also been implicated.

London is one of the world's financial centers. The impact of the financial crisis on the banking industry and subsequent policies to deal with the crisis are hot topics in the London mayoral election.

Including HSBC, Royal Bank of Scotland and Barclays, these important British banks were affected by the subprime mortgage crisis and suffered huge losses. Therefore, the corresponding stock prices have fallen significantly compared with the same period last year.

Even Standard Chartered Bank, which was not involved in the investment of subprime loan-related claims and did not suffer much losses, was also affected. Its stock price has fallen by more than 15% compared to the highest point last year... …

This is already the best performance among the major British banks.

(End of this chapter)