Age of Dreams

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Entering August, the air over Europe began to become more tense.

Although the EU is a complex organization on the whole, but on the whole, everyone hopes to have a good life, so they are united in order to enjoy the benefits of economic integration.

Unfortunately, in order to take care of the overall situation of the whole child, the EU does not have only a few powerful countries, but has absorbed many small and medium-sized countries, which is simply a poor country.

For example, Greece is a completely poor country.

Originally in the 1980s and 1990s, Greece relied on its own huge shipping team, together with Italy, to prop up the entire world's shipping and transportation. At that time, the limelight was no different.

However, with the development of the aircraft industry, the continued economic downturn in various countries since the Asian storm, and the continuous competition from Asian fleets such as Japan, South Korea, China, and Hong Kong, the Greek ship operation industry has fallen. It took a long time.

Now Greece can't even produce decent industries. The most eye-catching and most income-generating industry is the tourism industry, and then their overseas remittances.

It's really sighing that the dignified ancient civilization has fallen to where it is today.

But if you take a closer look at the way of life of the Greeks, you will know that they are doing this purely for themselves.

The first point is that the Greeks are very lazy. They are used to working lazily for five or six hours a day. They spend more time at meals and banquets than at work.

You have to say that five or six hours of high-efficiency work is fine, but the problem is that these five or six hours are equally useless. At best, they can be counted as three hours of labor for Chinese workers.

People live without being afraid of being poor, just afraid of laziness.

If you don't work hard yourself, how can you expect to work better and better?

The second point is that Greece has no interest in any innovation.

For example, heavy industry, light industry, electronics industry, network industry... They seem to be born a few steps slower, and they don't care about the continuous changes in the world's economy and innovation.

The third point is that Greece, as a once developed country in the West, has a very complete social security system. This has also resulted in many of their residents who do not need to work. If they are unemployed, they will go to receive relief funds to live. If they do not meet the conditions of relief funds, they will go to work for a few months. Then come back to receive the relief.

In addition, Westerners are hypocritical and unwilling to have more children and be more responsible. Therefore, the population of Greece has not grown much for many years, which has caused a very serious aging of Greece, which has led to an increase in the number of people receiving benefits.

Wait a minute.

I just said it earlier. Greece itself is not wealthy. Tourism is a pillar industry, and heavy industry is almost non-existent. How can their government have so much money to pay for all kinds of huge social security system expenses?

Is it to issue more currency?

of course not!

The greatest value of currency lies in its credibility.

The circulation of currency requires international circulation in order to be able to enter and exit. If it is only circulated in the country, it is completely useless except for causing severe inflation.

If you add money to buy things outside, everyone knows that you are just messing around in Greece. Where is it possible to accept your currency and wait for currency purchasing power to continue to depreciate?

Therefore, Greece has adopted the simplest and most direct approach.

Borrow money!

They borrow money everywhere, whether it is with EU banks, or Goldman Sachs, or Citi, or Royal Bank of Scotland...anyway, they will borrow all they can.

What should I do if I have no money after borrowing it?

It's very simple. Just cover the old account with the new account. Continue to borrow money to pay it back, and borrow money to spend it!

Ok.

Money borrowed in the name of the country. This is the so-called national sovereign debt.

If you only borrow money over time without a continuous repayment plan, then this sovereign debt is okay on weekdays, and it can always be dragged on slowly by fiscal taxes.

But once the economic situation suddenly becomes poor. If you cannot repay a debt, it will directly cause a chain reaction, and all the debts will bring down your government together.

This is the ins and outs of the first debt crisis in Greece in the previous life.

The problem is that there is definitely not only Greece in the EU that borrows money to live a life.

Italy, Spain, Portugal, Ireland... a lot of countries live like this on weekdays.

So when their debt crises broke out one after another. The entire European Union is in the process of struggling to rescue them.

In addition, the world’s second largest dung-cutter, the United Kingdom, has also stirred up trouble across the English Channel, dragging down the rescue plan of the entire European Union, so that before Xiao Qi’s reincarnation, there was only one country in Ireland that withdrew in name. The rescue mechanism is still early for the rest of the countries!

Originally, Europe still wanted to take advantage of the subprime mortgage crisis in the United States to make a good development of its own, and strive to catch up with the United States.

But if such a riot, let alone three to five years, even ten or eight years, it will not be able to regain its vitality, so how can it compete with the United States?

The United States is good. It has slowly recovered in a few years. It has also passed its own losses to Europe and Asia. It has also continuously incited internal conflicts in the European Union and various countries. , It is none other than them.

Therefore, Xiao Qi firmly suggested that Europe must know in advance the intentions of the United States and the huge crisis it faces.

Only if they are prepared, then they will not patronize the exhaustion of fighting fire everywhere, ignore the disasters brought to them by the United States, and ignore the losses and debts caused by investment banks such as Goldman Sachs, Merrill Lynch, and Morgan Stanley. The turmoil in the crisis.

The decision was made soon after the meeting of the top 30 giants on the Chinese side.

An overly weakened Europe is not in the interests of China.

But an undiminished Europe is not in the interests of China.

If they are notified late, they will suffer heavy losses and it will be difficult to climb up; if notified early, their losses will be reduced a lot, which is also detrimental to China.

Therefore, at the end of July, China's foreign affairs department warned the European Union through various channels and pointed out the major national debt crisis that Greece and other five countries will face.

The European Union was originally a loose body. After hearing the warning from China, they were not unresponsive, but they needed to meet to discuss, then go to Greece, Italy and other countries to investigate, and let these countries come to talk... etc. It is fixed, and the investigation procedure was decided when it entered August.

Greece, which received the news, strongly protested against the EU's interference in their finances and adopted a resolutely uncooperative attitude, claiming that its financial situation is good and there are no problems!

Hearing the news from Niu Ruzheng, Xiao Qi smiled bitterly.

The EU is going to investigate Greece and other countries and ask them to confess and discuss how to solve the problem. This is not wrong in itself.

But the problem is that these countries like Greece will not die before the Yellow River. Before the national debt crisis breaks out, they will not pay attention to the people of the EU at all, and they will feel that they are pointing too much. As for their own accounting, it is basically nothing. It is impossible to confess to the EU.

They did that in the previous life.

Then when the debt crisis broke out, they cried and called for the EU to rescue them and give them money to survive the crisis.

As a result, when the EU gave money and put forward the conditions for them to rectify, Greece resolutely refused, claiming that the EU was taking advantage of the fire, and they only wanted money and no conditions.

Ok.

If you look at the way in Greece, you will know that this is completely a **** and stupefied, only asking for it without paying.

Therefore, when the powers of the European Union met later, the United Kingdom satirized France and Germany. How did you collect this stuff? Didn't you ask a dad to raise it?

Looking at the same practice in Greece, Xiao Qi knew that Greece could not escape this time.

But fortunately, Britain, France, and Germany all value the opinions of China. While actively checking the financial situation of EU countries, they are also clearing up their own financial problems.

In particular, the "Credit Default Swap Insurance" business that Xiao Qi emphatically mentioned is involved in many banks in the three countries of Britain, France and Germany.

Once the debt crisis in Greece and other countries breaks out, these banks will be the first to bear the brunt, and their losses are definitely much greater than the subprime mortgage crisis.

Without adequate preparation, there are more than a few banks that have closed their doors!

Regarding this point, the three countries of Britain, France and Germany were inspecting at first, but the banks of other countries were also inspected. After all, the banking industry is the foundation of finance. If banks are closed down, the impact on a country will be too great. It is not impossible that the government will be blasted down immediately.

Hearing this practice of EU countries~www.wuxiaspot.com~ Xiao Qi couldn't help but breathe a sigh of relief.

The biggest loss in the previous EU countries was the banking industry, which then dragged down various industries.

If they can reduce the losses of the banking industry, even if many countries encounter debt crises, the EU will have to spend much less effort to help them.

You know, take Germany, the strongest country in Europe, for example. While helping countries such as Greece, they are still dealing with the major debt losses of their major banks. It is really not easy.

In this world, if we prepare ahead of time and reduce losses, Germany's efforts to rescue other countries will increase a lot, thus making great contributions to ending the European debt crisis and restoring the vitality of the European Union as soon as possible.

This is exactly in the interests of China.

The European Union has suffered major losses, but there is no injury, and it can recover in three to five years. It can continue to compete with the United States after recovery, and it will give China several years of development and transformation time.

As a result, China will become a big winner in this global financial crisis! (To be continued.)