Many people believe that the three major rating agencies in the United States are too ruthless.
They didn't even wait until Greece could no longer repay its debts, and then so hastily lowered Greece's sovereign credit rating, which really feels like adding insult to injury.
The female boss in Germany directly criticized the three major rating agencies for "having no sense of social responsibility and only fanning the flames in order to avoid chaos in the world." The British Prime Minister also criticized them in the same way.
But not many people know that the three major rating agencies have not contracted at all, and their attack on Europe has only begun now.
On September 4, the three major rating agencies issued another announcement. In view of the severe financial situation in Greece, they will lower the ratings of five major Greek banks: the National Bank of Greece, the European Bank of Greece, Alfa Bank, Raieves Bank and the Agricultural Bank of Greece.
The credit rating is BBB level to indicate the risk.
This time it was like a hornet's nest was poked, and it became lively.
Many people don’t know what the role of rating agencies is, so let’s talk about a very simple role.
As long as you get the evaluation document from a reputable rating agency and believe that your company is a good asset, you can rely on this evaluation document to deal with banks and partners.
On the contrary, if a reputable rating agency considers your company to be a low-quality asset, then the banks will call back the loan from you because they think it is risky to do business with you; investors will not believe you because they are worried about investing.
Will suffer a huge loss
Now you can see how powerful the three major rating agencies in the world are, right?
In a certain form, they are the arbiters of the credit of enterprises and the country, and they also have the power to control the credit of the country and enterprises.
Once these three major rating agencies say you are no good, then investors around the world will think you are no 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 resist it for a while, but when used on the five major Greek banks, they really have no power to resist at all.
Just half a day later, the Agricultural Bank of Greece, the fifth largest bank in Greece, was the first to announce that due to technical reasons, it would suspend operations and the bank's ATMs would no longer accept deposits and withdrawals. The specific reopening time is to be determined.
The very next day, Greece's fourth-largest bank Raieves also announced restrictions on all bank branches, including ATMs, and each person could only withdraw 20 euros in cash per day.
This move by the two banks has seriously affected Greek people's confidence in their country's economy.
For a time, the other three banks that were still open were overcrowded by people withdrawing money. No matter whether they were urban or rural branches, they were 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 follow the example of Agricultural Bank of Greece and Raieves Bank, according to this situation, the three major banks would not be able to sustain it for a week.
.
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 called on everyone not to panic. The Greek government is confident in solving the problem. The Greek country is running normally and there will be no crisis at all.
However, there is an idiom called concealment, and the Greeks are not fools. When they saw that the government's plan to solve the problem was to allocate only 2 billion euros for capital injection, and the three major banks together only had 2 billion euros, they immediately believed it.
Our country's financial situation is already in dire straits, otherwise how could we spend only 2 billion euros to solve the crisis?
The people don't know that the Greek government is actually also having a headache.
Because Greece is now in the European Union, and its currency is dominated by the euro, its central bank has a very small role. It is impossible for Greece to print money as soon as possible like the Federal Reserve does.
If you want to mobilize a large amount of euros for use, you must have sufficient deposits before you can apply to the European Central Bank. It does not mean you can have it just because you want it.
These 2 billion euros are the Greek government's maximum mobilization of funds. 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, and it was said that a huge demonstration was also in full swing.
Faced with this situation, not only the Greek government was confused, but also the powerful EU countries who had been repeatedly reminded by the Chinese government were dumbfounded.
They did not expect that the disaster would come so quickly and the blow would be so severe.
Although the United States is fanning the flames in order to prevent chaos in the world, Greece is really too weak, right?
They are unable to withstand such difficulties. This shows that the situation in Greece is really bad. The slightest disturbance almost caused them to collapse.
Since Greece is like this, what will happen if the four major countries of Italy, Spain, Portugal and Ireland, which are in similar situations to Greece, are exposed to debt problems again?
The entire European Union is about to fall into a serious crisis of disintegration.
The most powerful countries, the UK, France and Germany, are actually not in a good situation. When they reviewed credit default swap insurance, they found that many banks in their countries had huge loopholes.
Take the Greek sovereign debt bond, for example. Goldman Sachs and other investment banks and fund companies used it to insure 12 banks including Deutsche Bank, Lloyds Bank, and Credit Lyonnais of France.
Everyone has been happy collecting insurance premiums in recent years, but if Greece defaults on its debt, these banks will lose their pants.
Fortunately, China informed them a month in advance. All countries in the EU have made some preparations more or less. France, the UK and Germany have taken a tough stance and ordered banks to resolve these hidden dangers as soon as possible, so even if it is a crisis
When it comes, they are well prepared to deal with it.
At present, banks have communicated urgently with Goldman Sachs and have jointly used the most severe threats to threaten Goldman Sachs and other companies to abandon such "unethical insurance contracts."
Goldman Sachs is also a little confused. They originally wanted to take advantage of the chaos to fish in troubled waters, but now they know it in advance. If they insist on taking action, I am afraid Goldman Sachs will never be able to enter these countries in the future.
On the one hand, there are huge current benefits, and on the other hand, there are long-term benefits. Goldman Sachs has very different opinions on this. They are still under discussion.
Small fund companies don’t have such scruples. Anyway, I just want to make money, and it’s not illegal. Why do you blame me?
Therefore, they firmly do not admit that such credit default swap insurance is immoral. They 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 so angry that they almost vomited blood.
But the bank has no way to blame them and can only try to reduce losses as much as possible.
But in any case, according to the feedback, Britain, France and Germany in this life are definitely not as panicked and at a loss as in the previous life. Then the losses they suffered will be much reduced, and the EU's vitality can also be preserved a lot.
However, there is no way to avoid the debt crisis in those five countries.
The five countries affected by the disaster are not just a matter of the five countries. The small countries in Europe have debt problems to some extent. When the time comes, everyone will encounter difficulties and will need help from several powerful countries.
Therefore, the EU will definitely be strained this time and lose at least one-third of its vitality.
The European Union, which has lost one-third of its vitality, is much stronger than in the previous life, and the war with the United States will definitely be more intense than in the previous life.
"Oh, Qi Shao, you don't know that Larson and the others are going crazy with joy now. With the outbreak of the Greek debt crisis, their layout for more than a year can be considered successful, and they can earn at least more than a billion.
Even profits of billions or tens of billions of dollars?" Tong Wencong sighed with emotion on his face when he called.
"Don't envy them. After making this money, can they still invest in Europe and only make trouble in America and Asia in despair?" Xiao Qi said with a smile, "In the future, you can invest in Europe openly.
Business, acquiring companies with potential and doing their financial business, isn’t this enviable?”
"But seeing that I can't make so much money is a kind of torture." Tong Wencong was still a little reluctant to give up.
"You only think about how much others earn, why don't you think about how much we earned from the subprime mortgage crisis and gold futures?" Xiao Qi asked.
"Haha. Speaking of which, the last income from the subprime mortgage crisis was collected two days ago, and it was 3 billion US dollars more than expected." Tong Wencong said with a smile, "And I don't know much about gold futures.
Defu has earned 2.6 billion U.S. dollars, almost 4 billion U.S. dollars in two or three years. This is the top rate of making money in the world."
"So, there are many opportunities to make money. You don't need any money to make it. It's not good if you are hated by these countries." Xiao Qi nodded and said, "Just wait and see, this time these fund companies, there are three major
Rating agencies, if they jump out to be the vanguard, they will definitely not be able to reap their benefits."
"I know that China has warned the European Union countries about the debt crisis in advance. They have been prepared for it," Tong Wencong said. "Speaking of which, there are so many smart people in the world. I am still content to make money with Qishao honestly.
Already."
After cooperating with Xiao Qi for so long, Tong Wencong not only made a lot of money profits, but also helped Xiao Qi acquire several companies, and gained quite a reputation as a broker.
As a Wall Street fund manager, Tong Wencong may not be that outstanding, but his stable investments and strategies have still won the favor of many people. The funds he has managed in the past two years have exceeded 5 billion US dollars, which can be regarded as the limelight.
A positive person.
Thinking that her development from a small fund manager to the present was almost entirely due to Xiao Qi, so Tong Wencong immediately put aside the regret of not being able to participate in the European debt crisis feast, and determined that she would continue to follow Xiao Qi
Making money with the world's richest man is very safe.
Xiao Qi knew very well about Tong Wencong's thoughts.
Ordinary people do feel a little itchy when they see so much money and not being able to make it.
What's more, Tong Wencong is a fund manager, and he knows very well about such financial derivatives, and he even knows the profits contained in them.
But Tong Wencong also listened to Xiao Qi's advice, controlled his greed, and did not go into this muddy water. This is why Xiao Qi was willing to pull him to make money in gold futures.
Xiao Qi has never been stingy with his honest and obedient collaborators. To be continued.