Bell Stone's plan was good, but it was very unrealistic for the current situation in Ireland, because the time was too rushed. The rapid deterioration of the situation in the Irish government bond market has left their top brass with little time to advocate for Brexit. The most important thing for them now is how to ensure that these sovereign debts do not default.

But it's hard to say that none of them are unmoved by the agreement. If such an agreement had been put in front of them in September, I am afraid that the Irish top brass would have struggled for a long time, but now they simply do not have that much time.

"Applying for a loan in the name of the government?"

Enda. Kenny's eyes narrowed slightly, and he asked seemingly nonchalantly, "Or is it applying for a bailout of the EU in the name of the Irish banking industry?" ”

"In the name of the Irish banking industry, of course!"

Cowan's face sank, and he said without thinking, "What are you kidding?" Is the government bankrupt? We have a budget by the middle of next year, will we still apply for rescue? ”

He said these words in a loud voice, and he had the posture of breaking out when he didn't agree with each other.

"Relax, my friend!"

Enda. Kenny pouted, his face nonchalant, "I'm just asking." ”

Judging from current polls, the Irish people do not want their country to seek outside assistance, because this would damage the reputation of the "Celtic Tiger", and some even elevate such rescue to the level of national sovereignty. For the Republicans and Cowen, accepting a foreign bailout would mean a complete defeat for the Irish economy under his rule, and the Republican Party could lose in the future midterm elections and later elections to the House of Commons.

So Cowan would rather let the storm-torn Irish banking sector receive foreign aid than accept it on behalf of the Irish government.

And Enda. Kenny saw this and deliberately tried to do it.

Glaring at the other party dissatisfied, Cowan suppressed his anger in his heart and said in a deep voice, "Gentlemen. When I went back, I used my own channels to spread the news, saying that the Irish government was considering receiving EU aid in the name of the banking industry. ”

His intention in saying these words is naturally to influence the trend of Irish government bonds in the international market through grapevine, and indirectly reduce the current pressure on the Irish government.

Several people nodded silently.

……

"Hello, Mr. Wren!"

Ten minutes later, Cowan appeared in a golden conference hall. Met with European Commissioner for Economic and Monetary Affairs Oli Oli. Rennes.

Ollie. Wren has been in Ireland for several days, and in addition to inspecting the current state of the Irish banking sector, he has also spoken with the Irish Minister of Finance, the Governor of the Central Bank and other financial figures, with the aim of convincing all sectors of the Irish community to accept the EU's bailout.

It has to be said that the party in the whirlpool of crisis does everything possible not to want rescue, while the other party who is safe and sound needs to persuade the other party to accept the rescue, which is indeed an aggressive thing.

"Mr. Cowan!"

Wren glanced at the other party with a complicated expression, and sighed secretly in his heart. In the past few days, he has obtained some first-hand data. Ireland's economic situation is serious, almost to the point of burning eyebrows. But the top brass of the Irish government were so comfortable with it that he didn't know what to say.

"European finance ministers will meet tomorrow to discuss the current situation."

After the two sides sat down, exchanged a few pleasantries, and let the reporters take pictures, Wren couldn't wait to say, "The main thing is to discuss the current economic situation in Ireland and Portugal." ”

"We?"

Cowen's face flashed unnaturally. Touching his smooth chin, he said thoughtfully, "We don't have any problems. At least until the middle of next year. The Irish government will not have any trouble with its finances. ”

During this time, a number of high-level officials, including EU President Van Rompuy, came out to shout. Either Ireland is urged to accept aid as soon as possible, or the current situation in Ireland is resolved. Politicians in almost every eurozone have lectured on Ireland, but it doesn't seem to be working very well so far.

"Really? I don't think so! ”

Wren had to persuade bitterly, "Mr. Prime Minister." I understand your concerns. But based on my research and visits, Ireland has indeed reached the point where it needs help. If nothing else, as you said, if the budget is maintained until the middle of next year, what about the future? Some government bonds are maturing one after another. What will Ireland pay back then? Could it be that if the Republican Party does not govern at that time, will it not be responsible for that situation? ”

"This ......"

Cowan pretended to groan, as if there was a hint of loosening.

"According to my preliminary estimates, Ireland's banking sector will need at least $40 billion to $80 billion in bailouts. With the current financial strength of the Irish government, I am afraid that it will not be able to support such a large debt. Now I am afraid that the Irish government will not be able to raise funds in the market. If the news of the real shortage of funds in the Irish banking sector spreads, not to mention the pressure from the outside world, the run on the domestic population alone will quickly crush the Irish banking sector. ”

"If Ireland's banking sector goes bankrupt, then it is foreseeable that the Irish government will go bankrupt next, because you will not be able to get back the money you have invested in advance. And if the government goes bankrupt, debt restructuring will be a very long process, look at the current Argentine government, this is what you have learned from the past. In a decade or more, I am afraid that the Irish government will not be able to return to the international market. ”

They were locked in lengthy lawsuits with creditors from the bankruptcy of the Argentine government in 1999, until 2016, when the Argentine government reached a final restructuring agreement with some creditors, allowing the Argentine government to return to the international market. And in the process, even a warship of the Argentine government was detained because of the demands of creditors, which can be described as a big international joke.

In the past 17 years, the Argentine government has been unable to issue new bonds to raise funds by repaying the principal and interest of creditors on the one hand, and has been unable to issue new bonds to raise funds, so that the government's expenditures have been stretched to the point of being stretched, and even led to the decline of the entire national economy, which can be described as a heavy loss.

As soon as I heard the example of Argentina. Cowan's cheek twitched visibly twice. Although he values the interests of the Republican Party, as prime minister, he clearly does not want to be a sinner for the entire country.

"When the time comes, it's not just a matter of repaying the debt, and foreign investors will probably immediately turn away from Ireland!"

Wren finally struck while the iron was hot.

In fact, Cowan understands all these truths, and as the prime minister of a country, if he does not have a clear understanding of the importance of default, then he is very derelict in his duties. But now Wren still doesn't tire of saying it again. Naturally, I want to remind the other party that if you don't accept the help, the consequences will be very serious.

"If that's the case, I wonder if it's going to work?"

After a long silence, Cowan finally spoke, "Let the banking industry in Ireland apply in the name of the guilds, not in the name of the Irish government." In this way, it not only solves the current serious problem, but also saves our government from being criticized. Not sure if this way of applying is feasible? ”

The European Rescue Mechanism is a system jointly proposed by European countries. As a participant, they are naturally sovereign states, and it is natural that the applicant must also be a sovereign state.

"It's not going to work. Absolutely not! ”

Wren's face changed, and the next moment he shook like a rattle, and categorically vetoed, "Not to mention whether the procedure is passable, just in terms of the ability to repay, what do they use as a guarantee?" You must know that the sources of these funds are taxpayers in various countries, and if they can't repay them, they won't be able to account for them to the people. ”

If the subject of the loan is the government, at least there is tax as a credit guarantee. and borrowing directly to the already discredited and insolvent Irish banking sector. In the unlikely event of bankruptcy, the funds will be wasted. When the time comes, the leader of any European country. There is no way to explain to their own people.

"Really?"

Cowan was naturally well aware of this situation, but he still tentatively brought it up, and after being rejected by Wren, his expression did not change much, and even showed a disapproving expression.

This made Wren suddenly sigh in his heart, and the situation seemed to be a little bad in the secret way.

"I didn't mean to offend you in the slightest!"

Just as Wren was nervous, Cowan spoke again. "But with the new situation, I think you should understand that the Irish government is not the only choice at the moment."

"What do you mean by that?"

Wren didn't understand what the other party meant for a while, and asked inexplicably, "It's not a choice, is there any other way to go?" ”

"Of course!"

Cowan looked determined. "In fact, we have received another offer that one party also wants to bail out Ireland, and the amount of relief is much greater than we imagined." I think that if this funding had been added, Ireland's need for a bailout from the EU would not have been so urgent! ”

"What?"

As soon as he heard the news, Wren was shocked and blurted out, "What kind of conditions did they offer?" ”

"Leave the eurozone!"

Cowan said lightly.

This sentence exploded in Wren's ears like a thunderbolt from the sky, causing his brain to lose the ability to think in an instant. He didn't even need to ask, he knew who made this thing. Finally sobering up from the shock, he shook his head hard, and then looked at Cowan with a smile on his face, and his whole heart began to fall rapidly.

Regardless of whether the other side made a deal or not, the condition that Ireland would leave the eurozone alone would be enough to push Europe to the brink of fragmentation. You know, the core of the entire eurozone is the use of the same currency, and now because of the debt crisis that leads to the secession of one country, after setting this precedent, maybe there will be a second, a third, and then the whole eurozone will be completely finished.

"It's too ruthless!"

He cursed in his heart.

"Of course, as a government and a political party pursuing European integration, we are in fact not interested in this proposal!"

Seeing that the other party was almost out of shape, Cowan was secretly proud in his heart, but he could not give the other party the impression that the Irish government really intended to leave the eurozone, and immediately said hypocritically, "Not only me, but also the leaders of the other two political parties have expressed disdain for this proposal." But the problem is that the conditions they give are too generous, and if we miss it like that, then we really become sinners of the state. ”

"It turns out that he is playing this wishful thinking!"

Wren finally heard it, and it turned out that the other party's intention to reveal the news was here. At this time, another question arose in his mind, that is, whether the rescue plan that the Irish government said was really true or whether they had made it up. But now he doesn't have time to find evidence, so he can only appease the other party first.

"The point is this, I can't be the master!"

He shrugged his shoulders and expressed helplessness, "But I can relay it to the people of the European Commission on your behalf, and they will evaluate everything according to the current situation and make a final decision." I think in the end they will make a decision that will benefit Ireland and Europe as a whole. (To be continued.) )

PS: Thank you book friends for a flying heavy reward! The situation is basically satisfactory in the past two days.,The only fly in the ointment today is that I haven't seen a monthly pass.,I hope that friends with monthly passes can be positive.,Don't forget to vote for recommended votes.,Thank you.,Everyone's support is the author's biggest motivation~