Chapter 2567 The Debt Crisis Broke Out! (Down)

Many people believe that the three major rating agencies in the United States are too ruthless.

It didn't wait until Greece could not repay its debts, so hastily lowered Greece's sovereign credit rating, which really smelled like adding insult to injury.

The female boss in Germany directly criticized the three major rating agencies for "having no sense of social responsibility, only know how to fan the flames, lest the world will not be chaotic", and the British Prime Minister also criticized them.

But not many people know that the three major rating agencies have not shrunk at all, and their blow to Europe is only now beginning.

On September 4th, the three major rating agencies announced again that in view of the grim financial situation in Greece, they would downgrade the ratings of five major banks in Greece: National Bank of Greece, Greek European Bank, Alpha Bank, Raevs Bank and Greek Agricultural Bank. Credit rating to BBB level to indicate risk.

Now it was like stabbing a hornet's nest, and it became lively.

Many people don't know the role of rating agencies, so let's talk about a very simple role.

As long as you get the evaluation documents from a reputable rating agency and think your company is a good asset, then you can use this evaluation file to deal with banks and partners.

Conversely, if a reputable rating agency thinks your company is an inferior asset, then the bank will call you back because they feel that doing business with you is risky; investors will not trust you because they are worried about investing will lose a lot...

Now we can see how powerful the world's three major rating agencies are, right?

In a certain form, they are the arbitrators of the credit of enterprises and countries, and they also have the power to control the credit of countries and companies.

Once the three major rating agencies say that you are not good, 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 barely resist it, but when used on the five major banks in Greece, they really have no resistance at all.

Just half a day later, the fifth Greek Agricultural Bank of Greece was the first to announce. Due to technical reasons, the bank's ATMs will no longer accept deposits and withdrawals. The specific reopening time is to be determined.

On the next day, the fourth largest bank in Greece, Raeus Bank, also announced that all branches of the bank, including ATM machines, would implement restrictions, and each person could only withdraw 20 euros in cash per day.

This move by the two banks has seriously affected the confidence of the Greeks in their own country's economy.

For a while, the other three banks that were still open were directly overwhelmed by people withdrawing money, whether they were urban or rural branches. It's 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 learn from the Agricultural Bank of Greece and the Bank of Reeus, according to this situation, their three major banks could not last for a week at all. .

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 appealed. Please don't panic, the Greek government is confident to solve the problem, and the Greek state is operating normally. There will be no crisis at all.

However, there is an idiom called "If you want to cover up, you still show up", the Greeks are not fools. Seeing that the government’s solution to the problem was to allocate only 2 billion euros for capital injection, and it was only 2 billion euros for the three major banks, they immediately believed that their country’s financial situation was already terrible, otherwise how could it be only 2 billion euros? Euro out to solve the crisis?

The people don't know that the Greek government is actually having a headache.

Because Greece is now in the European Union, the currency circulation is mainly based on the euro, and the role of its own central bank is very small. It is simply impossible to print money as soon as there is a situation like the Federal Reserve.

You want to have a lot of euros to mobilize. You must have a sufficient margin before you can apply to the European Central Bank, not if you want to have it.

Just these 2 billion euros are the maximum amount of funds mobilized by the Greek government, and now they don't even have 2 billion euros in their accounts! !

An atmosphere of panic spread throughout Greece. There were many riots in Athens that night. It was said that a massive parade was also in full swing.

Faced with such a situation, not only the Greek government was dumbfounded, but even the European powers who had been repeatedly reminded by the Chinese government were dumbfounded.

They did not expect that the disaster would come so quickly and hit so hard.

Although the United States is fanning the flames, lest the world will not be chaotic, but you, Greece, are really too weak, right?

It can be seen that the situation in Greece is really terrible, and even a little trouble almost made them collapse.

Since Greece is like this, what should we do if the debt problems of Italy, Spain, Portugal and Ireland, which are similar to Greece, are exposed again?

The entire European Union will soon fall into a serious crisis of disintegration!

The most powerful countries, Britain, France and Germany, are actually not in a good situation. When they checked the credit default swap insurance before, they found that many banks in their own countries had huge loopholes.

Take this sovereign debt bond of Greece for example. Goldman Sachs and other investment banks and fund companies took it and insured twelve banks including Deutsche Commerzbank, Lloyds Bank of the United Kingdom, and Credit Lyonnais of France.

Everyone has been happy collecting insurance premiums in recent years, but if Greece defaults on its debts, these banks will lose even their pants!

Fortunately, Huaguo told them one month in advance. All countries in the European Union have more or less made some preparations. France, Britain and Germany are even tougher and order banks to solve these hidden dangers as soon as possible, so it is a crisis. Coming, they also have enough preparations to deal with it.

At present, the banks have urgently communicated with Goldman Sachs, and jointly used the most severe threats to threaten Goldman Sachs and other companies to abandon this "immoral insurance contract."

Goldman Sachs was also a little confused. They originally wanted to take advantage of the chaos to fish in troubled waters, but now they knew in advance that if they insisted on launching, Goldman Sachs would never be able to enter these countries in the future.

On the one hand, it is the huge interests now, and on the other hand, it is the long-term interests. Goldman Sachs has very different opinions on this. It is still under discussion.

Small fund companies have no scruples in this regard, anyway, I just want to make money. It's not illegal, why do you accuse me?

Therefore, they resolutely do not admit that such credit default swap insurance is immoral, and strongly demand that things be done in accordance with the contract, otherwise they will sue these banks for breach of contract.

This made those banks almost vomit blood with anger.

But the bank has no way to blame them, it can only try to reduce the loss as much as possible.

But in any case, according to the feedback, the three countries of Britain, France and Germany in this life must not be as flustered and overwhelmed as in the previous life. Then their losses will be reduced a lot, so that the vitality of the EU can be preserved a lot.

However, there is no way to avoid the debt crisis of those five countries.

These five countries were affected by the disaster, and it was not just a matter of the five countries. Those small countries in Europe had debt problems to a greater or lesser extent. When the time came, everyone would encounter difficulties and would need assistance from several major powers.

Therefore, this time the EU will definitely be hurt. At least one-third of the vitality is lost.

The European Union, which has lost a third of its vitality, is always much stronger than the previous life, and the war with the United States will definitely be more intense than the previous life.

"Oh, it's so rare, you don't know. Now Larson and his group are crazy about it! With the outbreak of the Greek debt crisis, their layout for more than a year can be regarded as a success! At least they can earn more than a dozen billions, or even tens of billions of dollars in profit!" Tong Wencong sighed when he called.

"Don't envy them! After earning this money, can they still invest in Europe? They can only make trouble in America and Asia in a desperate manner?" Xiao Qi laughed, "You can go to Isn’t it enviable for Europe to invest in business, acquire companies with potential, and do their financial business?”

"But it's a kind of torture to see that so much money can't be earned." Tong Wencong is still a little reluctant.

"Just think about how much other people earn. Why don't you think about how much we earn from the subprime mortgage crisis and gold futures?" Xiao Qi asked.

"Hehe, yes! Speaking of which, the last income from the subprime mortgage crisis was completed two days ago. It is 3 billion dollars more than expected!" Tong Wencong said with a smile, "And I also entrusted the gold futures It’s a rare blessing to earn 2.6 billion U.S. dollars, and almost 4 billion U.S. dollars in two or three years. This is the top of the world’s money-making speed!"

"So, there are many opportunities to make money, and you don't need to make all the money. It's not good if you are hated by these countries." Xiao Qi nodded, "Just wait and see, this time, there are three major fund companies Rating agencies, jumping out to be the vanguard, certainly don't have their good fruit to eat."

"I know that Huaguo has already warned about the debt crisis of the EU countries in advance. They have been prepared for a long time!" Tong Wencong said, "Speaking of which, there are so many smart people in this world, I'll just follow Qishao to make money honestly. Satisfied."

After cooperating with Xiao Qi for so long, Tong Wencong not only gained a lot of profit in terms of money, but also helped Xiao Qi buy several companies, and gained a good reputation as a broker.

As far as a Wall Street fund manager is concerned, Tong Wencong may not be considered that good, but his stable investment and strategy have won the favor of many people. The funds under management in the past two years have exceeded 5 billion US dollars, which can be regarded as the limelight Upright character.

Thinking that his development from a young fund manager to the present is almost entirely dependent on Xiao Qi, so Tong Wencong immediately abandoned the regret of not being able to participate in the feast of the European debt crisis, and resolutely wanted to continue to follow Xiao Qi!

Making money with the richest man in the world is very safe!

For Tong Wencong's thoughts, Xiao Qi knew very well.

Ordinary people are indeed itchy to see so much money not being earned.

What's more, Tong Wencong is a fund manager, and he knows such financial derivative products very well, and he knows the profits contained in them.

But Tong Wencong also listened to Xiao Qi's advice, controlled his greed, and did not venture into this muddy water, which is why Xiao Qi was willing to drag him to make money on gold futures.

For honest and obedient collaborators, Xiao Qi has never been stingy! (to be continued ~^~)