Chapter 11: The Chess Game

Bastard. Damn bastards. ”

"What qualifications does Britain have to threaten us now. ”

"Damn it, a bunch of garbage. ”

For several days in a row, the British pressed forward and forced Germany to cut interest rates, which made Schlesinger angry, and he was completely enraged by Norman Lamont's analogy, and although he did not say anything on the spot, as soon as he walked out of the conference room, he burst into a curse.

The British economy is now in a state of deterioration, and the pound is pegged to the mark and the pound is overvalued, which means that, as an alliance, Germany is paying for the British people's consumption.

However, instead of showing gratitude, Norman Lamont was arrogant, and Schlesinger felt that it was necessary for him to show Britain who was asking for whom.

"Hello, Mr. Schlesinger. I'm Sarah Connor, a journalist for the Frankfurter Allgemeine Zeitung. Economist Daniel BrΓΌhl said that the current German regional economy is extremely polarized, and the inflation rate remains high. If the central bank cuts interest rates, it will put inflation at a very dangerous level, which will seriously damage Germany's interests. What do you think about this. ”

Suddenly, a sexy-dressed reporter rushed to Schlesinger with a microphone.

Schlesinger, who was scolding in a low voice, had to restrain his attitude, as the head of a country's central bank, he represented Germany at this time.

Daniel Bruch, a well-known economist in the GDR, had always been at odds with Schlesinger, and he was one of Schlesinger's main rivals before the central bank merger.

This is a very red flag.

Daniel Bruch has a large number of supporters in the original democratic camp, and if he is caught attacking it, he will even be impeached as central bank governor. In addition, the merger of East and West Germany, regional economic disparities were once unbalanced, like an undercurrent, if not well controlled, no one knows what the consequences will be.

The economic base always determines the superstructure. Once the economy gets out of control, Germany, which has been so hard to reunify, will be in danger of falling into division again.

In the end, it was the head of a country's central bank, and in just a few moments, Schlesinger made a decision.

Since Britain and Italy are so stupid, let them see the price of stupidity first, and wait until Germany hurts before helping, and they will be better able to recognize their current position than they are now.

"Connor: yes. My view is that I can't guarantee the future direction of interest rates, and as we all know, the first responsibility and obligation of central banks is to control inflation and prevent a resurgence of populism. ”

β€œ......”

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"Pessimistically, I don't have much confidence in the fixed exchange rate relationship between European currencies. ”

β€œ......”

"Especially with the weak base of the lira, in recent years, the Italian economy has been in very bad shape, and fixing the exchange rate is a fool's errand. ”

β€œ......”

Perhaps outraged by Lamont's attitude, perhaps by the renewed betrayal of Italy with a special hatred in his heart, or perhaps by the sharp questions of the German journalists that he had no other choice.

From the current exchange rate mechanism to the economic differences between countries, Schlesinger acknowledges that there are certain shortcomings in the European exchange rate constitution.

Presumably to emphasize that this was not meant by Germany, he laid out the Bundesbank's role in the post-World War II era and pointed out the weak base of the Italian lira.

What does this mean?

It means that Schlesinger admits that there is a problem with the exchange rate mechanism, and it also means that he is singing about the lira.

But it is clear that Schlesinger himself was not aware of the problem, or rather, he did, but he did it anyway. For the guy who stabbed him in the back, you have to give them a taste of pain to make them surrender, don't you?

Therefore, a listener not far away had an irrepressible excitement in his eyes.

A Jew, about sixty years old, wearing a black suit and a blue tie, looked a little blessed and a little simple.

This is none other than George Soros.

This is a game, a general's chess game.

Kane Jimmy has an extensive network in Germany and is closely associated with many professors and experts in the field of economics, and Daniel Bruch is one of his friends.

Of course, as a practitioner in the financial industry, maintaining a good relationship with media organizations is also one of the factors. So before that, the beautiful Miss Sarah Connor, before coming to Bath, had an in-depth conversation with Kane Jimmy in the hotel bed.

Unfortunately, Schlesinger had no idea that this was a chess game, an evolution of a game from Chinese chess.

A game of chess that has been played a long, long time ago.

But now, it doesn't matter.

In order to make sure that what he heard was correct, Soros waited for Schlesinger to finish speaking and immediately walked over.

"Hello Mr. Schlesinger. I'm George Soros. ”

Schlesinger, who was about to leave, had to stop, just as George Soros knew him, and he knew George Soros.

Although, they haven't seen each other.

But the name of the person, the shadow of the tree, everyone is a level of people, at this time, it is very rude to leave, in desperation, Schlesinger just stretched out his hand and shook Soros's hand.

"Hello, Your Excellency Soros. ”

"Thank you, sir, for stopping. I don't know, what do you think about Egu becoming the currency of a united Europe. ”

It's a pretty fucked up question.

Because, Gros ECU, Γ‰gue, it was first issued by Louis XIII of France as a currency, although the current ECU and the French ECU are not the same thing.

"A unified European currency will allow European countries to avoid more economic friction and develop peacefully. It can also help the pan-European economic system to get through the current economic downturn, and I like the concept of a unified European currency. However, the name ECU is so old that it is easy to remind people of the brutality of Louis XIII. So, I prefer to call this unified currency the mark. ”

It was a very subtle answer, but it was also a very straightforward, very strong one, both against the aggressiveness of the British and against the constant petty actions of France behind the scenes.

Very German answer.

And this answer is as clear as Soros hoped.

Germany wants to unify the European currency, and the central bank is pushing for the idea of a monetary union, but not at any cost, and its priority is to maintain the good tradition of the Deutsche Mark to prevent inflation, and if other economies cannot tolerate the resulting tightening, then their currencies should be devalued.

The head of a country's central bank will not know what the impact of these remarks will be?

The answer is no.

Schlesinger was able to be selected by Kohl to assume the post of governor of the central bank just after the merger of East and West Germany, and his political sense is undoubtedly outstanding.

Soros suspects that Schlesinger will be content to see his tough stance on inflation undermine the plans for the European Monetary Union, which aims to create a European Central Bank that would replace Germany's central bank.

But Soros may never have dreamed that Schlesinger made this decision, in addition to half of the reason for his guess, and half of it was completely angry.

It's just what Lamont keeps repeating: no one knows the economy better than I do, no one knows more about the economy than I do, no one knows better than I know what the Bundesbank needs to do right now, and no one knows better than me what the consequences of interest rate differentials are.

In some ways, Lamont was right, but to Schlesinger's ears, it meant something else entirely.

But Soros is indeed right, people are selfish, and the group of people is also selfish.

And this selfishness is people's instinctive sense of protection when they encounter a crisis.

Financial and banking institutions also have a sense of protection and a desire to protect themselves, and Schlesinger, as a career central bank official, is likely to be a representative of this trend when faced with the European Central Bank replacing the German Central Bank.

"Stanley. I believe that the lira is about to depreciate and you should increase your short position in the lira on top of the existing position size. ”

"Are you sure?George?"

"Of course. I'm sure you'll know the reason soon. Now, I'm going to the airport and try to get back by tonight. This time, we're going to make a big profit again. ”

Robert John, a person's name, in Western countries, such a personal name is as common as Zhang Shuai in China.

"Robert. I have just returned from England and, in my judgment, the Italian lira must depreciate. But for now, I'd like to hear what exactly you think about the pound. ”