Whether the news is true or not, Spain's very gloomy data is in front of everyone, with bad debts in the banking sector, government spending unabated, rising government bond yields, and high unemployment across the country. By all indications, the Spanish government is on the brink of a crisis, and that the bomb could explode at any moment.

Most importantly, the power of this rumor is not only to expose that Spain may be in crisis, but also to wake up investors in the market, such as Portugal and Ireland, which are in a similar situation to the current Spain, that is, they may lose both.

Today's ECB may be able to save Greece, but if Spain applies for a rescue from them, and then Ireland and other countries also reach out to the ECB, the amount of money to save these countries will reach an astronomical amount, whether this is what the ECB can afford, whether the parliaments of countries such as France and Germany will agree to pass such a rescue plan, and so on, have become a lingering dark cloud on the minds of investors.

Whether the eurozone will fall apart from this has become a question for investors to begin to consider.

Panic quickly began to spread.

Although the trading time of the stock market has passed, it does not prevent investors from making the decision to flee and retreat.

The first to react to these negative news was the euro, which, despite being trading stagnant on the exchanges, plunged 0.0216 against the dollar on the OTC market, a drop of 1.77%, a new low in this period and a new low for the euro against the dollar in the last five years.

In the United States, the Dow Jones index quickly turned around and fell as much as 200 points after opening higher. Although the decline has since narrowed, there is still a decline of 139.9 points. On the VIX index, which reflects investors' willingness to avoid risk, it has been rising for days. This reflects growing market fears that the European debt crisis can be successfully resolved.

Not only the United States itself, but even Japan in the Far East has been affected. EUR/JPY fell 2.79, or 2.48%, on the day, although it did not hit a new low in the spot period. But it also swallowed up the recent upward momentum that had been hard to form in an instant.

In Spain, where the brunt of the crisis, there has been an unprecedented frenzied flight of funds, although the local banks in Spain have been closed, but the investors who have become frightened birds are still through the banks operating around the world, regardless of the cost of exchanging their euros, hoping to escape from Spain as soon as possible.

The same scene also happened in Italy, Ireland and other places.

That night, the news reached the headquarters of the ECB, and the members of the European Commission could not sit still. They know exactly what this wave means.

"Damn, we've got to do something!"

In his office in Brussels, news kept coming, and even though it was late at night, the anxious Van Rompuy was still not sleepy, pacing back and forth in his prime minister's office, still muttering.

Van Rompuy, who is currently the rotating presidency of the European Commission, took office on 1 January 2010. Originally, he just wanted to survive his two-year tenure smoothly, but the tree wanted to be quiet and the wind did not stop. A series of unexpected events pushed him to the forefront.

Van Rompuy is 63 years old, and his hair is pale and clumped, forming a strange shape on his forehead that is deeply recessed. He often wears a pair of half-rimmed eyes, and has a smile on his face, which looks very relatable. The reason for becoming the first President of the European Council is in addition to his unique ability in economic affairs. Van Rompuy's ability to deal with party contradictions has also impressed many European leaders.

The European Council, established in 1974, was originally a six-month rotation of world leaders. Later, due to the continuous expansion of the eurozone countries, this method was no longer suitable for the rotation system, so it was later changed to an electoral system, and each president would be given a 2.5-year term.

Van Rompuy became the first elected president of the Council of Europe.

Council of Europe. The highest decision-making body of the European Union, composed of the heads of state of EU member states, the President of the European Council and the President of the European Commission, mainly determines the EU's major policies, especially foreign policy decisions. Among the three parties, the President of the European Council is called "President of Europe" because the European Council is able to decide on the choice of the President of the European Commission.

But it is clear that this "president" is not easy to be!

"Another 15 billion euros has flowed out of Spain!"

Just when he was as anxious as an ant on a hot pan, his secretary did not forget to come in and cause trouble, "monitoring from the ECB, they say that in the last three hours, more than 50 billion euros have been lost from the Spanish banking system. By tomorrow morning, this figure could be expanded to 80 billion to 100 billion euros! ”

"Damn, what the hell is Madrid doing?"

Fan Longpei lowered his head and cursed with a hideous expression. When he raised his head again, he still had a gentle and elegant expression, "Pick me up Barroso, it's now!" ”

Jose. Manuel. Maroloso, the president of the European Commission, is Portuguese.

Barroso, 54, born in Lisbon and by law training, officially became Prime Minister of Portugal in 2002.

He was not tall, slightly fat, and his hair was always combed to the right, which looked like a layer on his forehead from a distance. His fluency in foreign languages combined with his excellent diplomacy led to his election to the post of President of the European Commission in 2004, and is now serving his second term.

The European Commission is the executive body of the European Council and is responsible for the implementation and implementation of EU legal conditions, as well as the implementation of budgets and projects. To use a simple analogy, if the European Council makes a plan to assist Greece, then the European Commission will be the body to implement it.

"Jose, the problem is serious!"

As soon as the phone was connected, Van Rompuy said in fluent Portuguese, "Not only the foreign exchange market, but also the crazy flight of funds, including Spain and Portugal." ”

"ECB numbers?"

Barroso on the other side of the phone was still a little sleepy, but when he heard Van Rompei's words, he immediately woke up, "Herman, what happened?" ”

"You don't know?"

To this answer from Barroso. Van Rompuy was surprised, but he didn't have time to question why the other party was so uninformed, but explained the current situation bluntly, "There are rumors in the market that Spain will turn to the European Council for help, hoping that they can help the Spanish government tide over the difficulties." In this case. The markets that are still open have seen a sharp drop and there has been a flight of funds in Spain, all from the ECB. ”

"It's a very serious situation, Jose!"

Van Rompuy finally added, "If the situation is allowed to develop, soon Spain will turn to the ECB for help, and you know very well what their situation is now!" ”

"This is a baseless rumor!"

Barroso concluded without hesitation, "At least on my side, I have never received any official documents from the Spanish government. Or they may hear from their foreign ministers. I understand that this is a rumor unleashed by speculators in order to cause panic in Spanish domestic funds! ”

"Not just Spain, but also Italy, Ireland and some other countries."

Seeing that Barroso hadn't realized the seriousness of the problem, Van Rompuy was a little angry, and unceremoniously interrupted the other party's speech, and rebuked in a stiff tone, "Don't you understand what the hell is going on?" If we can't take proactive measures. Tomorrow's opening will have disastrous consequences. If it drags on for two days, the whole thing could go out of hand. If it's a week. Then the whole of Europe is probably over! ”

"What happened to the discussion on aid to Greece and the establishment of an aid fund?"

After losing his temper, Van Rompuy slowed down his tone and continued to ask, "Until now, in addition to bailing out Greece, we have to let investors all over the world see it." How much control our European hub has over the whole thing! ”

"It's not going well!"

Barroso, who was here, pursed his lips and replied a little helplessly, "For some countries, they haven't reached an agreement in Congress yet. If negotiations continue with this process, it is estimated that it will not be completed in two weeks. ”

"No, I can't. Be sure to make a deal tomorrow! ”

Van Rompuy replied, "I will call the presidents of Germany and France, as well as the managing director of the IMF, you can rest assured that I will do my best to deal with this, and they will also show their support." You'll take over the rest, and this must be done quickly. I strongly advise you not to sleep today and to start a meeting with them right away. ”

"In addition, in my capacity as President of the European Council, I will send an informal invitation to the heads of state to participate in an informal summit of European heads of state tomorrow to focus on the current situation and give the market support and confidence!"

"European summit?"

Barroso was taken aback, only then did he realize the true gravity of the situation.

Van Rompuy, as the president of the Council of Europe, has the right to convene an informal European summit agreement in the first half of the year, commonly known as the European summit. But if there are no major issues, the summit generally does not need to be held.

So when Van Rompuy proposed a summit of European leaders, Barroso realized the true gravity of the situation.

"In addition to agreeing on an aid package tomorrow that must be approved by parliaments, we will also formally negotiate with the American side as a European whole!"

As for the conspirators behind the whole thing, the European top brass is well aware of this, but others are using a conspiracy, although they are very dissatisfied with this, but it is not easy to blame anything, after all, the rules are public. However, the bell must be tied to the bell in the end, and as long as the United States relaxes, I believe that their capital will also be much more convergent.

Because the whole thing is not all a good thing for the United States. First of all, the rise of the dollar has hurt their exporters. In addition, the economic data of the United States have been released one after another, all of which have exceeded market expectations, and in this situation of recovery, they naturally do not want to see their recovery troubled by the European debt crisis.

Van Rompuy was quick to grasp the essence of the matter.

"Also, get the Spanish government to issue a statement telling the market that the ECB's request for help is completely false!"

Once the train of thought was clarified, Fan Longpei's countermeasures kept coming out of his mind, "We must first stabilize the confidence of the market, and then we can solve these problems!" ”

"Is there something going on over there at ECB?"

It was only at this time that Barroso had a chance to speak, "The IMF and European countries will contribute a part of the 750 billion euro rescue plan." But if this number does not solve the market crisis, then ......"

He didn't continue, but what he wanted to say had been clearly captured by Van Rompei.

If this plan does not solve the European debt crisis, then the ECB will be put on the forefront, whether it is to buy debt-ridden bonds or implement a QE plan, it needs to be considered by them.

"This ......"

Van Rompei hesitated for a moment, and finally said, "I'll communicate with them." The worst thing to do is to get them to consider buying these bonds first. In any case, we need to get the consent of Paris and Berlin! (To be continued.) )

PS: Thank you for voting for the monthly pass! Thank you Nanquan 99 and the electromagnetist for your continued reward! With everyone's active support, I hope this month will be a good start again, this month the author only hopes to see a few monthly passes every day, it can be very lively, but don't be too lonely, but also hope that more book friends can pay attention to and support this book, and look forward to the results of this book will get better and better~