The Son of Finance of the Great Age

  Chapter 762 Europe's first stage counterattack (2)

Sure enough, on February 9, this report about Goodman Company appeared overwhelmingly in the media and on the Internet, and the focus of the financial market immediately focused on the United States, the investment bank boss Goodman Company, and even other A big piece of news loses a lot of weight unintentionally.

  Of course, only a few people know that the reason why Goodman’s report was released at this time is to divert the market’s attention.

   For a while, Goodman Company became the focus of all attention. Of course, being the focus is not a good thing. After an emergency response, Goodman quickly issued a "disclaimer" statement, claiming that the currency swap agreement designed by the Greek government and other countries at that time was completely compliant and legal. If any regulatory agencies want to access relevant information, they are always welcome. At the same time, they also strongly stated that even if they are eventually charged, they are also prepared to deal with it.

  As soon as this statement was published, it immediately caused a sensation in the entire market. Because anyone with a discerning eye can see that there is a shadow of the European Union behind the relevant reports on Goodman Company, but Goodman Company, as one of the representatives of American capital, did not choose to give in and bow its head because of this. The hidden meaning behind it is Very intriguing.

Anyone who understands this incident knows that it is impossible for the two sides to confront each other face-to-face, because it is very likely that they will be bloodied and lose both sides. The dominance of China has been eroded and coerced by other third-party forces.

  As representatives of the two forces, these big investment banks or fund companies may be the first to bear the brunt of the wrath from the other side.

  The whole thing immediately fermented.

   Exactly on this day, the Greek government issued a statement, declaring that before May 19, it will raise about 9 billion euros of funds to meet the payment of part of the debt due. With the current financial resources of Greece, they are simply unable to pay this part of the debt. At the same time, because the debt rating has been lowered, the Greek government's plan to replace the old national debt by issuing new national debt will not work.

  Because, their practice of auctioning the new national debt unexpectedly aborted.

That is, no institution in the market can accept the price set by the Greek government. Once the price is lowered, the Greek government will not be able to raise the funds needed before May 19. Therefore, when the two parties cannot compromise, the Greek government The new treasury bond issuance plan fell apart.

  In the statement, Greece officially announced that it will seek help from the European Commission and the IMF. The specific application plan is being prepared and submitted to the relevant agencies in the shortest possible time.

   This statement undoubtedly verified the previous reports of the US media and the downgraded statements of the three major rating agencies, that is, Greece is really in a debt crisis.

  But this piece of news that might have caused a sensation in the global market unexpectedly did not cause market fluctuations, because that night, the European Commission also issued a statement, an almost tit-for-tat statement, which stabilized the confidence of the market.

This statement from the European Commission was issued in the early morning of February 10, that is to say, on the day after the Greek announcement, the European Commission held a meeting and reached an agreement quickly, and released it before the market reacted. come out.

As we all know, the EU's internal decision-making has always been very slow, because the euro area was originally a currency union, and later developed into an economic union, but each member state is still an independent sovereign state, and it will take a long time to balance the interests of all parties. wrangling.

  Under such circumstances, the European Commission reached an important agreement in just one day. This speed naturally makes people very suspicious.

   But no matter what, the statement issued by the European Commission not only swept away the potential impact of the Greek statement, but also strengthened the confidence of several other potentially dangerous countries.

  In the statement, the European Commission announced that it would provide an emergency loan to ensure that Greece will not default on these maturing national debts. Accompanied by the simultaneous announcement of this news, it is a huge stabilization mechanism. The European Commission announced that it will establish a Eurozone stabilization mechanism with a total amount of up to 750 billion euros to avoid further spread of sovereign debt crises in the future.

Even, the Eurozone also explained the source of funds for this stabilization mechanism in a pretentious manner: the countries in the Eurozone will jointly inject 440 billion euros, and the European Commission will contribute 60 billion euros, that is, the whole of Europe will spend 500 billion euros to stabilize the region. debt stability. The remaining 250 billion euros will be spent by the IMF.

  Naturally, so far this stabilization mechanism is still on paper. Issues such as funding and the proportion of each country still need to be discussed and resolved by the finance ministers of each country. It is expected that it will be difficult to resolve in a few months. But the important thing is that Greece's national debt has a credit guarantee, so at least there is no need to worry about defaulting.

  Two news appeared on the market one after the other. The former is like a small stone thrown in a calm pond, which only caused a little bit of waves, and then disappeared quickly. The latter is like a thunder on the ground, quickly boosting the confidence of the market. For a while, the euro, the stock market in the euro zone, and the commodity market all experienced increases of varying degrees.

   "Is this how they boost market confidence?"

However, within the Tianyu Fund, the European Commission's approach has aroused considerable doubts. When Jiang Shan saw the news, he couldn't believe his eyes. He ran directly to Zhong Shi's office and asked dumbfoundedly. , "Zhong Sheng, have you seen the news? The mere 750 billion euros is probably not enough to cover the national debts of two or three countries. How dare you say that the entire euro zone is stable?"

"And most importantly, it will take at least two to three months for the decisions of the European Commission to become reality on paper. Under such circumstances, how can they prevent the spread of the crisis? "

   "It's so funny! It's incredible that such a statement can be fully believed by the market! Are all investors fools?"

   At the end, he couldn't help complaining loudly.

   "So do you know why they chose to release this statement at this time?"

Zhong Shi did not answer the question, but looked at Jiangshan with great interest, "For the pillar countries such as Germany and France, there is no sign or possibility of their debt downgrading at all. In this case, they can watch the joke of Greece , After all, a country like this leaving the EU might not be a bad thing.”

   "Aren't you afraid that other countries have ideas?"

Jiang Shan blurted out, "Who doesn't understand this truth? As the saying goes, if the European Commission really lets go, the entire euro zone may face the danger of falling apart. This is obvious. So no matter how much their opponents shout, I'm afraid it will not stop their determination to pay."

   "You're right, but not quite right!"

Slightly nodded, Zhong Shi pointed to his head, "I think so, the main reason why the European Commission made a decision so quickly is not because of the fear of the collapse of the euro zone, but because of the Greek debt crisis, which endangers to the strength of the euro.”

   "The reason?"

Jiang Shan's entire face suddenly wrinkled into a ball. After thinking hard for a while, he said hesitantly, "In order to compete with the US dollar for the dominance of the world currency, they integrated a euro economy back then. To fight against the U.S. dollar and strive for the right to issue world currencies. It turned out that when the economic crisis broke out in the United States, the euro had a great tendency to replace it. The U.S. also saw this, so it recklessly destroyed Europe. Is that true? ?”

"good!"

Zhong Shi slapped his hands twice, applauding Jiang Shan’s analysis, “The emergence of the Euro is to counter the U.S. dollar. Before that, the common currency in the world was the U.S. dollar. Although the amount of currency issued by the Federal Reserve was strictly controlled every year, But looking at the number of U.S. dollars in circulation around the world, it is not difficult to see that even an increase of 1% per year can bring huge benefits to the United States. This is simply to slowly extract the wealth created by the world. During this period , the exchange rate mechanism within Europe is still consuming wealth, and the gap between the two sides will only grow wider and wider. That's why European elites designed the common currency of the euro, even if they lose the right to issue currency. To reduce this unnecessary internal friction."

"When the euro becomes another strong currency, it also absorbs the wealth brought by the world invisibly, which is the same as the dollar. Moreover, compared with the United States, the economic aggregate of the entire euro zone is larger Huge, the total amount of currency is less, that is, the gold content is higher."

"In the past few years, the foreign exchange reserves of many countries have quietly changed from a single dollar to a form of joint holding of multiple currencies, which means that the dominance of the dollar has been seriously challenged. The U.S. government has been doing nothing about it, but now The opportunity has come, and when you are hit hard, you can pass on this crisis in some way, and Europe, which has always been eyeing the status of the US dollar, is the best place to transfer it.”

"The elites in Europe are naturally aware of this. It's just that so far, they have not reached an agreement on this internally, but if there is an agreement, we may have little chance. But because of the decision-making mechanism of the European Commission, so So far, they have not agreed and it is difficult to agree. So we still have a lot of opportunities."

"What should we do?"

   This time, Jiang Shan understood thoroughly, and then asked, "Zhong Sheng, according to your estimation, how far will the whole thing go? It won't really be the disintegration of the Eurozone, right?"

"of course not!"

  Zhong Shi categorically denied, "The Eurozone will never disintegrate, just look at today's reaction! As for what we will do next, we have to discuss it with the United States before making a decision!"

   "Why doesn't it disintegrate?"

Hearing Zhong Shi's words, Jiang Shan was even more confused. "According to the general logic, if there is a large-scale debt crisis, the biggest possibility is that the Eurozone will be dissolved and countries will use their own currencies to repay their national debts. No. , which violates the original intention of the establishment of the euro!"

"Did you forget it?"

  Regarding Jiang Shan’s words, Zhong Shi sneered, and retorted disdainfully, “If Europe has really come to that point, wouldn’t they use the trick that the United States used to deal with them today? Just pass on the crisis.”

   "That's okay too?"

  Jiangshan sucked in a breath of cold air, but the next moment he was confused again, "This is indeed a possibility, but according to its economic scale today, where can it transfer the crisis in the end?"

"The biggest possibility is that it has reached an agreement with the United States, and the two sides will jointly attack a certain region and divide up the interests there. This not only successfully passed on their own crisis, but also joined hands with the United States to establish a basis for mutual understanding. friendship."

  Looking at the increasingly gloomy face of Jiang Shan, Zhong Shi said expressionlessly, "The truth is cruel, right? But this is the nature of the world!"

   Thank you book friend, I am Xiaochen, book friend 151201204732977, I was not the one who voted for the monthly ticket last night! Thank you book friend Xiaoheer for your reward! Once again, I have the cheek to ask all new and old book lovers to vote more and recommend more. I hope the results of this book will get better and better!

  (end of this chapter)