Chapter 44: Declaration of War
Finland has vast forest resources and oil resources, the world's most advanced papermaking technology processing technology and pulp production technology, and with a developed light industry, Finland has become one of the richest countries in Europe.
Its summer scenery and winter snow scenery are always the most fascinating, and its villas submerged in verdant greenery always make people feel the beauty of nature. In the summer, grab a fishing rod, bring a drink, lean on the pier or river trail to fish, chat with the beautiful women, the fresh air, the pleasing scenery, it is like going to heaven.
And when it comes to winter, the snowy world always looks forward to Santa Claus wearing a red dress and a Santa hat, driving a deer and rowing a sleigh to send Christmas blessings to people.
In Finland, beauty is like a fairy tale.
I love Finland and everything about it.
So today, I have to warn the Bank of Finland that Finland is facing a huge crisis.
Not long ago, the German central bank raised the benchmark interest rate again, a historically rare 1.5 basis points, so that the German implementation interest rate reached 7.6 percent, and the commercial bank interest rate even reached 8.3 percent, but in Finland, the deposit and loan interest rate was only 1.5 percent, as high
Nearly seven interest rate differentials are bound to accelerate the outflow of Finnish capital.
Think about it, if you take money out of the Bank of Finland and deposit it in the Bundesbank, then the annual income will be 7% more, what is the concept?
A company with good performance and good operation has a normal annualized rate of return of up to 10 percent, and it also has to bear a huge risk of market fluctuations, but the German bank has a central bank backing, which is an investment without any risk. β
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"The market is the only measure of results, and it is always correct. In just five months, the HEX has fallen by 50 percent, which has turned the wealth of countless investors into ashes, and even the shares of Stora Enso have fallen to the pledge risk control line.
There are also MetsΓ€ and Nokia Group, which have had a huge impact on the Finnish paper industry in the changes in the Eastern European market, MetsΓ€ has had to lay off employees and cut salaries, and Nokia Group has even been forced to cut down all forestry structures. β
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"We can see the efforts of Finnish companies in the difficult situation, but these are not enough, now Finland needs to release more capital to stimulate inflation, so that the recession can be eased, so that companies can invest more money in new technology research and development, so that workers who have lost their jobs can have jobs as soon as possible. β
"But what is the Bank of Finland doing? They are watching Finland's economy fade and ignore it, and they are watching companies go bankrupt and ignore it. β
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"Stora Enso's share price has reached the risk line, and once it falls below the risk control line of the banking system, the bank will have to reduce its losses to deal with Stora Enso's shares. β
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"And, with tens of thousands of employees and nearly 50,000 people involved in the industry, it would be a disaster for Stora Enso to go bankrupt. β
"And Fenlin, Nokia......"
"If a large business goes bankrupt, these risks are passed on to the banks, and eventually, it is likely to lead to the collapse of the banking system. β
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"I love Finland and every year, my favorite thing is to go skiing in Finland in the winter and enjoy the clean and white nature. I really don't want Finland to be in a huge crisis because of the economy. Unfortunately, I already foresaw that Finland was heading for hell. β
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"I am compelled to place on record my warning.
"The Bank of Finland has to make changes to stop the downturn in the economy, the lives of millions of people, and the urgent need for more accommodative monetary policy is needed to keep the Finnish economy from a further recession. β
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Looking at the newspaper in his hand, An Ning's face turned iron-blue, his already red eyes were full of bloodshots, and even his lips exploded several times silently, and a trace of blood seeped out of that mouth.
From the interest rate differential between Germany and Finland, to the Finnish economy, and from the major Finnish listed companies, to the analysis of the banking system. It's organized, it's easy to understand, and there's nothing to add to it, all of which are real difficulties for Finland. Finally, he summed up how Finland should make changes to solve the current crisis, and sent his blessings.
As the governor of the central bank, how could An Ning not know where these problems lie, and how could she not know that Finland now urgently needs a more accommodative monetary policy.
However, neither the central bank nor Finland can afford to continue easing monetary policy, which will cause the Finnish mark to no longer be pegged to the exchange rate mechanism of Egypt, which will cause a large-scale loss of foreign exchange reserves, which will be an even greater disaster for Finland.
However, the newspaper did not mention Finland's plight in terms of exchange rate, but at the beginning it mentioned the interest rate differential with Germany, clearly telling everyone that if you take the Finnish mark to Germany, you can get greater profits.
Shameless!
Shameless.
You are the one who wants people to go to hell, you are the one who makes the capital leave, and you are the one who shamelessly says that you don't want Finland to go into a predicament.
How can there be such a damn bastard in this world.
No.
How can there be such a devil in this world?
A declaration of war, this is a naked declaration of war on Finland's exchange rate.
An Ning couldn't read what was written in the newspaper anymore, and looking at that handsome and handsome face, he stood up abruptly and frantically tore the newspaper in his hand.
Thorn, sting-
"Damn bastard! Damn it! I curse you to hell. β
In a fit of rage, An Ning couldn't care about his image, tore off the newspaper in his hand, roared, and cursed.
It is conceivable what kind of pressure the government will bear as this report continues to ferment, and in the end, all the pressure will be transferred to the central bank. What's even more frightening is that there is also the interest rate differential between Germany and Finland, which will lead to the depletion of domestic foreign exchange reserves.
Geman, Carmandi!
Bang β
With a loud bang, thinking of the latest file sent back by the financial regulatory department, An Ning shook his hand and flipped over everything on the table, still disgusted, turned around and smashed the glass curtain wall behind him with a fist.
In an instant, the solid glass exploded countless spiderweb-like fragments, which was shocking. Blood seeped out silently along An Ning's fist, and there were bursts of sharp pain in his hands, but compared to the pain and bleeding in his heart, everything was nothing.
Damn the Germans, damn the Americans, and the damned Soviets. You bastards fighting, why do you want to burn the flames of war to Finland, and useless British and Gallic chickens, you so many countries are united, you can't even stop Germany's footsteps, it's just rubbish.
Bang Bang Bang β
Hurried footsteps suddenly came from outside, and without seeing a human figure, the sound came first.
"President. Oh no. There was a massive sell-off in the spot market. β
The next moment, the head of the foreign exchange bureau rushed in from outside, the sweat on his forehead kept flowing, and he obviously rushed here without stopping.
Spot market sell-off!
An Ning's eyes were almost bald, and he grabbed the neck of the head of the foreign exchange bureau.
"What did you say?"
"Just now, there was a sudden surge in the spot market with a large amount of selling......"
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