For the video from an unknown source, it is just a contingency in the overall plan. Since rumors of a possible debt crisis in Italy, the EU's major economies have had to figure out how to get out of the debt crisis once and for all, including a bailout for Greece.

On 27 October, a historic solution to the debt crisis was finally introduced, with the banking sector writing down half of Greece's debt and the total amount of the European financial rescue mechanism expanding to 1 trillion euros.

The agreement was reached at a summit meeting of the European Union, which was attended not only by finance ministers from the eurozone, but also by representatives of the banking sector from European countries. Because it involved the need for the banking sector to write down Greece's debt, the two sides negotiated for a long time, and finally the European banking industry agreed to write down Greece's debt by 50%, or as much as 100 billion euros. In return, the private sector will be allowed to be added to the rescue team, while the eurozone will provide them with 30 billion euros as a "credit boost".

At the same time as reducing Greece's total debt, the European rescue mechanism EFSF has also begun to expand, and the French president solemnly announced that the total amount of EFSF funds will be expanded to 1,000 billion euros in November to meet the challenges that may arise in the future. At the same time, in order to cope with a possible crisis in the banking sector, it is also planned to raise the capital ratio of the banking sector as a whole in Europe.

According to the published information, the EU will require the capitalization ratio of the banking sector across Europe to be increased to 9% by the end of June 2012 in order to cope with a possible crisis.

This time, the EU summit was held before the G20 World Summit, in order to reach an agreement internally before global leaders discuss the economy, and then take it to the G20 Summit to discuss with the leaders of other countries. The result is a global consensus.

The wishful thinking of the eurozone leaders is that even if the leaders of other countries in the world do not reach out to the eurozone, at least they must not lag behind at critical times, especially the United States, Japan, China and other countries, and at such times do not do anything that falls into the ground.

On September 20, Standard & Poor's upgraded Italy's sovereign credit rating to A from A+. The "negative" outlook is undoubtedly intended to reassure the eurozone as a whole to resolve its debt problem once and for all.

As the eye of the storm in the crisis, Greece has accepted a second round of 109 billion euros in rescue packages. However, on this basis, EU countries have allocated another 30 billion euros to aid the private sector, which is currently encouraging the private sector to participate in the rescue in Greece to ease the pressure on the government. In this way, the second round of rescue efforts for Greece reached a whopping 130 billion euros.

It can be seen from this that the Greek problem is still highly valued by the eurozone, although they have already received a round of bailouts. But the eurozone is still not reassuring enough about the country's situation.

As soon as the results of the EU summit came out, the entire world financial markets immediately reacted.

The euro immediately rose sharply against the dollar, soaring directly from 1.3890 to 1.4198 on the same day, up 0.0313, or 2.26%, and the highest exchange rate of 1.4247 also hit a new high in nearly three months.

As a result of this news, the dollar fell around the world. Among them, there have been varying degrees of decline against the British pound, Australian dollar, Japanese yen and other currencies. At the same time, because of this broad benefit, the stock markets of various countries have also risen in different ranges. Commodities have risen across the board, and the market's risk appetite has heated up rapidly.

Stanley gives a brief assessment of this: with the results of the EU summit, the entire market has been affected by this. Although EUR/USD broke through the 1.4 mark on the day, there may be a slight correction later. But on the whole, the re-strengthening of the euro is already an irreversible fact, unless the current Greek rescue package is found to be significantly flawed.

Several other major investment banks have also expressed similar views. That is, after expanding the total amount of the rescue mechanism, the debt crisis in Europe is no longer as terrible as imagined, and the debt crisis in the eurozone in the future, although it still exists, will definitely not be as terrible as it is now.

The whole world is full of positive optimism and is optimistic about the prospects of the eurozone.

But what the whole world didn't expect. This optimism lasted only three days, and before analysts could discover the loopholes in the Greek rescue plan, Greece itself made big news that caused a sensation around the world.

On October 31, to the surprise of the world, the Greek government suddenly issued a statement announcing that it would hold a referendum on the new rescue package just passed at the EU summit, and that it would hold a vote of confidence in Parliament.

According to the timetable released in the statement, a vote of confidence is likely to take place in the coming days by approving the new rescue plan, while a referendum could be held in January next year. It will be the first referendum on the country's form of government since 1974.

Among the reasons given, the Greek authorities claimed that they had decided to seek a national referendum to resolve the current dilemma in accordance with their constitutional rights because of the strong opposition opposition to the new rescue plan and the intense pressure from the popular demonstrations.

In his statement, Papandreou said: "We trust the people and ask them to say yes or no for the new agreement!" ”

At the same time, in his speech to Congress, he said: "The dilemma is not whether to keep the current government or to change it, but whether the Greek people agree to the latest debt agreement, whether they agree to remain in the EU, whether to keep the euro." ”

In other words, Papandreou's choice of referendum was aimed at determining whether Greece would remain in the eurozone.

It can be said that the new agreement reached at the EU summit is extremely beneficial for Greece, including the plan for the write-down of Greek debt, which directly reduces Greece's total debt from the current 160% of total GDP to 120%, while allowing the private sector to bail out and increasing the diversity of rescue funding sources.

But such a rescue agreement was ruthlessly "rejected" by the Greek authorities. In the current situation, the opposition of the Greek people to the new rescue plan is as high as 60%. Of course. What they object to is not the rescue plan itself, but the conditionalities attached to the new rescue plan, namely the impact of fiscal austerity on public service and taxation.

A rescue plan that seemed very favorable to the whole world was "rejected" by the Greek authorities.

As soon as this news came out, it immediately shook the whole world.

The first to suffer was the European stock market, where the Financial Times index fell by 122.65 points on the day. The decline was 2.21%. Germany's DAX index in Frankfurt fell 306.83 points, or 5%. The CAC 40 index in Paris fell by 174.51 points, or 5.38%.

Immediately afterwards, the New York stock market also suffered a heavy setback, with the Dow Jones, S&P, and Nasdaq all falling by more than 2%, reversing the market some time ago.

At the same time, the global commodity market has also reversed, three days ago the risk appetite is still warming, but on this day the world's funds are frantically looking for safe havens, in addition to precious metals commodities were directly abandoned, prices have returned to the price level of the previous two days

In the EURUSD market, which has the most direct relationship. The euro has plummeted. On the day of the announcement, the euro fell from 1.4146 to 1.3829, a decrease of 2.02%, directly erasing the gains brought by the good news of the previous two days.

But all this is not over, on November 1, the euro continued to fall by 1.48%, and the market risk aversion rose for a while.

"They ......"

When they got the news, the French president and the German chancellor were shocked. Rao is that they have been reminded in advance and have sufficient psychological preparation. But the two of them never imagined that the accident would appear in such a way, directly betting on the future of a country.

"How can they do that?"

The female prime minister was puzzled: "If they were coerced by the financial oligarchy, they could have chosen to step down, but now they have to gamble the fate of the whole country on high-sounding reasons, which is crazy." ”

When I learned the news. The French president and the German chancellor had an urgent phone call.

"If the whole thing continues, according to the current public opinion in Greece, it is very likely that they will leave the eurozone in a referendum!"

The French president roared, "It's not just international investors who will run down their money now, when they leave the eurozone." There is also a risk that our first round of funding will be lost. ”

"Yes, yes, yes!"

The female prime minister woke up like a dream and hurriedly said, "Hurry up and let the ECB freeze the current relief funds, and we can no longer continue to fill this bottomless pit with funds until the matter is completely resolved." ”

Both sides were accompanied by staff, and soon their orders reached the ECB, and an 8 billion euro bailout was immediately frozen, and the ECB began drafting a draft to explain the act to the outside world.

"What if they were to be pulled out of the eurozone?"

The German Chancellor and the French President felt uncomfortable for a while, and after a moment of silence, the female Chancellor suddenly asked, "What if they are really allowed to vote and withdraw directly from the eurozone?" ”

She has begun to seriously consider the possibility of Greece leaving the eurozone.

"What?"

The French president was shocked, "You...... You...... How did you come up with this? ”

All along, the French president has been thinking about how to save Greece as much as possible and avoid the contagion of the debt crisis. But in Germany, opposition has not stopped, and the chancellor has seriously considered the possibility of abandoning Greece.

"Yes, if they do have a referendum and pass the decision to leave the eurozone, then we will be passive!"

The more the prime minister spoke, the more serious she became, "At least so far, we don't have a good way to check and balance them." Rather than letting them do this nonsense, it would be better to seriously consider the implications of Greece's exit from the eurozone. ”

"I'm afraid this matter is not something that the two of us can decide!"

Although you are the president of one country and one of the heads of the two core powers, the French president really does not dare to guarantee anything on this issue, and can only euphemistically persuade, "If we really want to give up Greece, we need to get the consensus of the whole of Europe!" ”

"Then convene an extraordinary summit!"

The prime minister gritted her teeth and said, "Tomorrow we will convene an emergency summit of the European Union to discuss the response to this decision of Greece." If they insist on a referendum, then we need to prepare them to leave the eurozone completely. ”

So far, the EU and the IMF have invested less than 100 billion euros in Greece, which is still within what they can afford. In doing so, the Greek authorities seem to be distributing political pressure to the people, but the two men clearly see that there is a deeper factor besides this reason.

"If they get out of the eurozone, then we will have to reformulate our strategy in terms of exchange rates, trade, the economy, and defense to deal with the new situation."

The female prime minister was ruthless, "all preferences in tariffs, immigration, trade protection, etc., are eliminated, and punitive clauses are imposed when necessary, so that they can taste the taste of being abandoned by the whole of Europe." ”

"There must be an explanation for this matter in the end!"

She finally gritted her teeth and said, "Someone has to stand up and take responsibility for this, it's absolutely unforgivable!" (To be continued.) )

PS: Thank you to the book friend Johnee, kalm God, Brother Zhao, and draw the knife and cut off the oil to vote for the monthly pass! At the same time, I would also like to thank Huangzhou, Momoko12, the full wall of spring palace wall willow, gengsu and other book friends for voting for the monthly pass! I don't know what day it started, but the latest news only shows the tip, but not the monthly pass, it's really drunk...... So the monthly vote you voted for just saw.,I thought the recent vote was not strong.,It turned out to be a pure misunderstanding.,But fortunately, I found it in time.,Seeing that everyone is still actively supporting the author's update so ineffectively.,The author expressed his gratitude.,Thank you~.