There is a word called, PIIGS, P, L, L, G, S, P, Portugal, Italy, Ireland, Ireland, Greece, Greece, Spain, these five countries have terrible economies and owe a lot of ass debt. Pen "Fun" Pavilion www.biquge.info

In addition to tourism and related service industries derived from these countries, the industrial economic structure is single, and under the declining traditional shipbuilding, automobile and other industries, the emerging industries are almost a blank slate, so the government budgets of various countries will undoubtedly be stretched thin under the public expenditure and welfare subsidies that have risen year by year, and they have to use the debt method of demolishing the east wall to make up for the west wall.

If the state can pay the interest in the normal way of repayment, when the owner is not short of money, relying on the arrears of the due capital, under normal circumstances, it can also be fun, but in the face of the economic crisis, everyone is short of money, and even the creditors are cutting expenses, the impact will inevitably be based on eating, drinking and entertainment-based tourism.

As a result, the country's cash flow is slowly drying up, and the instinct to gather funds for profit has led to a rush of funds in the direction of Frankfurt in the north at a time of crisis.

At this time, the credit rating agencies also came to join in the fun, downgrading the credit ratings of these countries by one or two levels, so that they could not repay their old debts, could not borrow new debts, and could not stop their family expenses, waiting for the "bankruptcy" of the whole country one day, so that a "pig" that was only slaughtered by others was born.

Italy has a debt of more than 2 trillion US dollars, what to do, find a way, it will definitely not work if you don't pay it back, otherwise, your country's credit will be bankrupt, and besides, who are the creditors, the European Central Bank, the European Commission, the IMF (International Monetary Fund), the troika, the big countries of Europe and the United States behind the troika, the hunters of national assets, if you don't pay it back, there are ways to sanction you.

As early as early March 2014, it was reported that Italy was in danger of selling Sardinia due to heavy debt.

However, Chen Yan Googled Sardinia and felt that it was unlikely, Sardinia has a population of 1.65 million, a desert island, Italy owes a lot of debt, and it is possible to sell Xiaoer for the New Year, but it is impossible to sell a large island with a population of 1.65 million and the second largest island in Italy.

On the contrary, Greece is possible, the G in PIIGS, the problem is more serious than Italy, "terrible finance, sad Greece, blood-sucking financial circles, as the head of the wrongs, lost the control of the country, can not go, can not stay," can only describe Greece in this way.

Greece's pathos has already been sown in the eurozone.

Greece was not actually eligible to enter the eurozone in the first place, because the eurozone has a red bar, a country's fiscal deficit cannot exceed 3% of GDP, and public debt cannot exceed 60%, which is a dead line.

Greece didn't have enough of this line at first, and then Goldman Sachs went to Greece to lobby and get Greece into the eurozone by doing accounts.

This is how Greece slipped into the eurozone.

The 2008 financial crisis in the United States affected the world due to the financial crisis that affected the world, resulting in a significant drop in the number of tourists around the world. It also affected Greece, Greece's fiscal revenue mainly depends on tourism, tourism revenue decreases, its fiscal revenue plummets, but the state expenditure can not be reduced, so its deficit skyrockets.

In 2009, Greece's public debt was as high as 113% of GDP, and the fiscal deficit reached 12.7%, which is much higher than that of the euro area. The three major credit rating agencies in the United States immediately downgraded Greece's credit rating, which triggered a collapse in Greek assets.

At this time, the European Central Bank, the European Commission, and the IMF were called for help, and the troika found that the situation was indeed out of control, and immediately implemented the first round of bailouts for Greece in May 2010, investing 110 billion euros.

By 2012, when the Greek crisis erupted again, the problem was not resolved. The troika has further provided Greece with 130 billion euros in emergency relief. Will the 130 billion euros in the second round be used to save the Greek economy? Still not. Most of the money is still used to get international investors, not Greece.

By 2015, Greece's entire public debt now reached ***** euros, and in 2010 it was only 110 billion, which is now three times that of that year, and its actual economic problems have not been solved, and the borrowed money mortgages its own assets, but it is international private investors who are saved.

And under the pressure of the troika, instead of bailing out the economy, it began to tighten sharply and cut public spending, which led to a surge in unemployment and a sharp decline in public services, which led to a boiling of public resentment, one of the most fatal mistakes made by the Greek government in the first two rounds of bailouts. And this fatal mistake also led to a serious consequence.

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After the economic collapse, at that time, to break in, to pick cheap assets, this is the international investment community.

What assets do these people have in Greece? Although Greece is relatively poor, it still has a lot of excellent assets, such as its tap water, its electricity, its transportation facilities, its docks, ports, airports, and any country's economic development is indispensable to these infrastructures, which can bring stable cash flow, so it is a good asset.

The third round of bailouts, what are the conditions offered by the German Ministry of Finance, first, Greece must transfer all the companies that have been privatized and are in the process of privatization to a trust company, what are these for, they are about to enter the auction process, which shows that the confiscation will start immediately, how many assets have been mortgaged by the Greek government, 1/4 of the country's GDP, which is equivalent to selling 1/4 of the country.

Second, it is necessary to reorganize the operation of the Greek government under the supervision of the European Commission, which is even more ferocious, and the European Commission guides the operation of your government, which is equivalent to handing over national sovereignty, and you have become a pure executive agency.

Third, there must be legislation, that is, if your Greek fiscal cuts do not meet the standards, this legislation will automatically cut fiscal spending.

As long as Greece agrees to these three articles, Greece has become a semi-colony, and in fact, in history, not only can war conquer a country, but in modern times, finance can also destroy a country.